Wells Fargo & Company Boosts Scotts Miracle-Gro (NYSE:SMG) Price Target to $67.00

Scotts Miracle-Gro (NYSE:SMG) had its target price raised by Wells Fargo & Company from $65.00 to $67.00 in a report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 14.04% from the stock’s current price.

Several other research firms have also recently commented on SMG. Jefferies Financial Group raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and cut their price target for the company from $72.00 to $69.00 in a report on Monday, April 7th. JPMorgan Chase & Co. dropped their target price on Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Truist Financial raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Wednesday, April 2nd. UBS Group dropped their target price on Scotts Miracle-Gro from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Stifel Nicolaus raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and dropped their target price for the stock from $78.00 to $70.00 in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.83.

Scotts Miracle-Gro Stock Down 0.4%

Scotts Miracle-Gro stock opened at $58.75 on Tuesday. The business has a 50 day moving average price of $55.05 and a two-hundred day moving average price of $65.56. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -122.39 and a beta of 1.98. Scotts Miracle-Gro has a 12 month low of $45.61 and a 12 month high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 EPS for the quarter, beating the consensus estimate of $3.95 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.69 EPS. On average, analysts expect that Scotts Miracle-Gro will post 3.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Scotts Miracle-Gro

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atala Financial Inc acquired a new stake in Scotts Miracle-Gro during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in Scotts Miracle-Gro in the 4th quarter valued at $26,000. Spire Wealth Management boosted its position in Scotts Miracle-Gro by 477.9% in the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company’s stock valued at $30,000 after buying an additional 454 shares during the last quarter. UMB Bank n.a. boosted its position in Scotts Miracle-Gro by 479.4% in the 1st quarter. UMB Bank n.a. now owns 562 shares of the basic materials company’s stock valued at $31,000 after buying an additional 465 shares during the last quarter. Finally, Tortoise Investment Management LLC boosted its position in Scotts Miracle-Gro by 77.3% in the 4th quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company’s stock valued at $34,000 after buying an additional 225 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.