Scotts Miracle-Gro (NYSE:SMG) Stock Rating Lowered by Barclays

Scotts Miracle-Gro (NYSE:SMGGet Rating) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Thursday, MarketBeat reports. They presently have a $110.00 target price on the basic materials company’s stock, down from their previous target price of $150.00. Barclays‘s target price would indicate a potential upside of 5.61% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. StockNews.com assumed coverage on Scotts Miracle-Gro in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Raymond James decreased their price target on Scotts Miracle-Gro from $185.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 14th. Wells Fargo & Company decreased their price target on Scotts Miracle-Gro from $170.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, March 17th. Truist Financial decreased their price target on Scotts Miracle-Gro from $225.00 to $185.00 in a research note on Tuesday, March 22nd. Finally, Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $123.00 price target on the stock in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Scotts Miracle-Gro presently has a consensus rating of “Buy” and an average price target of $180.89.

Shares of SMG opened at $104.16 on Thursday. Scotts Miracle-Gro has a twelve month low of $102.59 and a twelve month high of $247.84. The stock’s 50 day moving average is $125.61 and its two-hundred day moving average is $144.18. The firm has a market capitalization of $5.79 billion, a PE ratio of 13.69 and a beta of 1.14. The company has a current ratio of 2.51, a quick ratio of 0.69 and a debt-to-equity ratio of 3.71.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last announced its quarterly earnings data on Tuesday, February 1st. The basic materials company reported ($0.88) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.81) by ($0.07). Scotts Miracle-Gro had a net margin of 9.24% and a return on equity of 46.76%. The business had revenue of $566.00 million during the quarter, compared to analysts’ expectations of $561.18 million. During the same period in the prior year, the firm posted $0.39 EPS. Scotts Miracle-Gro’s revenue for the quarter was down 24.4% compared to the same quarter last year. On average, sell-side analysts predict that Scotts Miracle-Gro will post 8.03 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its stake in Scotts Miracle-Gro by 1.6% in the 3rd quarter. Creative Planning now owns 4,033 shares of the basic materials company’s stock valued at $590,000 after buying an additional 62 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Scotts Miracle-Gro by 0.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,450 shares of the basic materials company’s stock valued at $3,579,000 after acquiring an additional 69 shares during the last quarter. National Asset Management Inc. raised its holdings in Scotts Miracle-Gro by 3.6% in the 4th quarter. National Asset Management Inc. now owns 2,189 shares of the basic materials company’s stock valued at $353,000 after acquiring an additional 76 shares during the last quarter. Wellington Shields & Co. LLC raised its holdings in Scotts Miracle-Gro by 3.5% in the 3rd quarter. Wellington Shields & Co. LLC now owns 2,359 shares of the basic materials company’s stock valued at $345,000 after acquiring an additional 79 shares during the last quarter. Finally, Mcdonald Partners LLC raised its holdings in Scotts Miracle-Gro by 6.1% in the 3rd quarter. Mcdonald Partners LLC now owns 1,389 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 80 shares during the last quarter. 61.62% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Company Profile (Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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Analyst Recommendations for Scotts Miracle-Gro (NYSE:SMG)

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