Scotts Miracle-Gro (SMG) Rating Increased to Hold at Zacks Investment Research
Scotts Miracle-Gro (NYSE:SMG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “The Scotts Miracle-Gro Company, through its wholly-owned subsidiary, The Scotts Company LLC, is the world’s largest marketer of branded consumer products for lawn and garden care, with products for professional horticulture as well. The Company’s brands are the most recognized in the industry. In the U.S., the Company’s Scotts, Miracle-Gro, Ortho and Smith & Hawken brands are market-leading in their categories, as is the consumer Roundup brand, which is marketed in North America and most of Europe exclusively by Scotts and owned by Monsanto. In the U.S. the Company operates Scotts LawnService0, the second largest residential lawn care service business. In Europe, the Company’s brands include Weedol, Pathclear, Evergreen, Levington, Miracle-Gro, KB, Fertiligene and Substral. Its customers include home improvement centers, mass merchandisers, warehouse clubs, hardware chains, independent hardware stores, nurseries, food and drug stores, commercial nurseries and greenhouses, and specialty crop growers. “
SMG has been the subject of a number of other reports. SunTrust Banks reiterated a “hold” rating and issued a $95.00 price objective on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Bank of America upped their price objective on Scotts Miracle-Gro from $107.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro in a report on Saturday, November 25th. Finally, JPMorgan Chase & Co. cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price objective for the company. in a report on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $101.33.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Scotts Miracle-Gro had a return on equity of 37.81% and a net margin of 7.51%. The firm had revenue of $376.70 million during the quarter, compared to analysts’ expectations of $368.50 million. During the same period in the prior year, the business earned ($0.30) EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. equities research analysts predict that Scotts Miracle-Gro will post 4.3 EPS for the current year.
In related news, EVP Ivan C. Smith sold 6,587 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $97.74, for a total transaction of $643,813.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nancy G. Mistretta sold 5,000 shares of the stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. 29.14% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Scotts Miracle-Gro by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,882,566 shares of the basic materials company’s stock valued at $347,335,000 after acquiring an additional 39,851 shares during the period. First Eagle Investment Management LLC boosted its holdings in Scotts Miracle-Gro by 1.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 3,201,071 shares of the basic materials company’s stock valued at $311,592,000 after acquiring an additional 50,860 shares during the period. Earnest Partners LLC boosted its holdings in Scotts Miracle-Gro by 0.8% during the 3rd quarter. Earnest Partners LLC now owns 1,316,284 shares of the basic materials company’s stock valued at $128,127,000 after acquiring an additional 10,341 shares during the period. State Street Corp boosted its holdings in Scotts Miracle-Gro by 1.4% during the 2nd quarter. State Street Corp now owns 1,182,128 shares of the basic materials company’s stock valued at $105,756,000 after acquiring an additional 16,056 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Scotts Miracle-Gro by 17.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,046,557 shares of the basic materials company’s stock valued at $101,873,000 after acquiring an additional 157,174 shares during the period. Institutional investors own 69.18% of the company’s stock.
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About Scotts Miracle-Gro
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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