Scotts Miracle-Gro (NYSE:SMG) Price Target Raised to $74.00 at Jefferies Financial Group

Scotts Miracle-Gro (NYSE:SMG) had its target price upped by equities research analysts at Jefferies Financial Group from $71.00 to $74.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 32.32% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Truist Financial set a $80.00 target price on shares of Scotts Miracle-Gro and gave the company a “buy” rating in a research report on Monday, July 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Wednesday, October 8th. UBS Group decreased their target price on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, October 2nd. Stifel Nicolaus decreased their target price on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, August 4th. Finally, Wall Street Zen cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.67.

Scotts Miracle-Gro Trading Up 2.7%

Shares of SMG stock traded up $1.46 during trading hours on Wednesday, hitting $55.92. 1,658,815 shares of the company were exchanged, compared to its average volume of 966,692. The business has a 50 day moving average of $57.76 and a two-hundred day moving average of $60.48. Scotts Miracle-Gro has a 52 week low of $45.61 and a 52 week high of $85.18. The company has a market capitalization of $3.23 billion, a PE ratio of 73.58 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.88) by ($0.08). Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The company had revenue of $387.40 million for the quarter, compared to the consensus estimate of $396.75 million. During the same period in the prior year, the company earned ($2.31) EPS. The firm’s revenue was down 6.6% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. On average, research analysts forecast that Scotts Miracle-Gro will post 3.42 EPS for the current year.

Insider Activity

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer acquired 1,790 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average price of $61.32 per share, for a total transaction of $109,762.80. Following the purchase, the executive vice president directly owned 10,130 shares of the company’s stock, valued at $621,171.60. This trade represents a 21.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of Scotts Miracle-Gro stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the completion of the sale, the director owned 13,217,641 shares of the company’s stock, valued at $832,975,735.82. This trade represents a 0.43% decrease in their position. The SEC filing for this sale provides additional information. 25.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its holdings in shares of Scotts Miracle-Gro by 288.8% during the 1st quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company’s stock valued at $78,011,000 after purchasing an additional 1,055,672 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Scotts Miracle-Gro by 12,034.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,008,623 shares of the basic materials company’s stock valued at $66,529,000 after purchasing an additional 1,000,311 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Scotts Miracle-Gro by 458.7% in the 2nd quarter. AQR Capital Management LLC now owns 822,743 shares of the basic materials company’s stock valued at $54,268,000 after purchasing an additional 675,493 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Scotts Miracle-Gro by 163.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 899,690 shares of the basic materials company’s stock valued at $59,344,000 after purchasing an additional 557,647 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its stake in shares of Scotts Miracle-Gro by 333.3% in the 2nd quarter. Brandes Investment Partners LP now owns 603,941 shares of the basic materials company’s stock valued at $39,836,000 after purchasing an additional 464,570 shares during the last quarter. 74.07% of the stock is owned by institutional investors.

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.