Scotts Miracle-Gro Company (The) (SMG) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $108.00 price objective on the stock.

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. “

A number of other equities analysts have also recently issued reports on SMG. Gabelli started coverage on shares of Scotts Miracle-Gro Company (The) in a report on Thursday, October 20th. They issued a buy rating on the stock. Bank of America Corporation raised shares of Scotts Miracle-Gro Company (The) from an underperform rating to a buy rating and set a $105.00 target price on the stock in a report on Thursday, December 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $98.25.

Scotts Miracle-Gro Company (NYSE:SMG) traded down 1.75% during mid-day trading on Tuesday, hitting $93.16. The stock had a trading volume of 473,743 shares. The firm has a market cap of $5.60 billion, a PE ratio of 18.33 and a beta of 0.64. Scotts Miracle-Gro Company has a 12-month low of $62.72 and a 12-month high of $98.82. The company has a 50-day moving average of $93.97 and a 200-day moving average of $84.25.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its earnings results on Thursday, November 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. Scotts Miracle-Gro Company (The) had a return on equity of 33.41% and a net margin of 11.09%. The business earned $402.30 million during the quarter, compared to the consensus estimate of $370 million. During the same period in the prior year, the business earned ($0.12) EPS. The business’s revenue was up 7.2% on a year-over-year basis. Analysts expect that Scotts Miracle-Gro Company will post $4.23 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Scotts Miracle-Gro Company (The) (SMG) Upgraded to “Buy” at Zacks Investment Research” was first reported by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.com-unik.info/2017/01/11/scotts-miracle-gro-company-the-smg-upgraded-to-buy-at-zacks-investment-research.html.

In other Scotts Miracle-Gro Company (The) news, major shareholder Hagedorn Partnership, L.P. sold 20,000 shares of Scotts Miracle-Gro Company (The) stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $95.00, for a total value of $1,900,000.00. Following the transaction, the insider now owns 15,795,318 shares in the company, valued at $1,500,555,210. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman James Hagedorn sold 15,984 shares of Scotts Miracle-Gro Company (The) stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $95.42, for a total transaction of $1,525,193.28. Following the completion of the transaction, the chairman now owns 9,079 shares in the company, valued at approximately $866,318.18. The disclosure for this sale can be found here. Corporate insiders own 28.16% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning raised its position in Scotts Miracle-Gro Company (The) by 41.6% in the third quarter. Creative Planning now owns 1,223 shares of the company’s stock valued at $102,000 after buying an additional 359 shares during the period. Glenmede Trust Co. NA raised its position in Scotts Miracle-Gro Company (The) by 41.4% in the second quarter. Glenmede Trust Co. NA now owns 1,553 shares of the company’s stock valued at $107,000 after buying an additional 455 shares during the period. Tower Research Capital LLC TRC raised its position in Scotts Miracle-Gro Company (The) by 100.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,936 shares of the company’s stock valued at $135,000 after buying an additional 971 shares during the period. Advisor Group Inc. acquired a new position in Scotts Miracle-Gro Company (The) during the second quarter valued at about $153,000. Finally, LS Investment Advisors LLC raised its position in Scotts Miracle-Gro Company (The) by 71.7% in the second quarter. LS Investment Advisors LLC now owns 2,726 shares of the company’s stock valued at $191,000 after buying an additional 1,138 shares during the period. Hedge funds and other institutional investors own 70.72% of the company’s stock.

About Scotts Miracle-Gro Company (The)

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.

5 Day Chart for NYSE:SMG

What are top analysts saying about Scotts Miracle-Gro Company (The)? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Scotts Miracle-Gro Company (The) and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit