Zacks Investment Research downgraded shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) from a hold rating to a sell rating in a report issued on Wednesday, October 4th.
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. “
Several other equities analysts have also commented on the company. KeyCorp restated a hold rating on shares of Scotts Miracle-Gro Company (The) in a research note on Monday, August 28th. BidaskClub upgraded Scotts Miracle-Gro Company (The) from a sell rating to a hold rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Scotts Miracle-Gro Company (The) has an average rating of Hold and a consensus target price of $100.00.
Scotts Miracle-Gro Company (NYSE SMG) opened at 99.75 on Wednesday. Scotts Miracle-Gro Company has a 12 month low of $81.48 and a 12 month high of $100.23. The firm has a 50-day moving average of $96.39 and a 200 day moving average of $92.92. The firm has a market capitalization of $5.83 billion, a PE ratio of 26.92 and a beta of 0.39.
Scotts Miracle-Gro Company (The) (NYSE:SMG) last released its earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $2.16 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts forecast that Scotts Miracle-Gro Company will post $4.08 earnings per share for the current year.
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In other Scotts Miracle-Gro Company (The) news, EVP Denise Stump sold 22,615 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $95.05, for a total value of $2,149,555.75. Following the completion of the transaction, the executive vice president now directly owns 19,444 shares of the company’s stock, valued at $1,848,152.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman James Hagedorn sold 92,357 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $96.41, for a total value of $8,904,138.37. Following the completion of the sale, the chairman now owns 115,867 shares of the company’s stock, valued at $11,170,737.47. The disclosure for this sale can be found here. Insiders have sold 261,085 shares of company stock worth $24,987,438 in the last 90 days. Insiders own 28.16% of the company’s stock.
Large investors have recently modified their holdings of the business. FNY Managed Accounts LLC purchased a new stake in Scotts Miracle-Gro Company (The) in the 1st quarter valued at $103,000. Almanack Investment Partners LLC. purchased a new stake in Scotts Miracle-Gro Company (The) in the 2nd quarter valued at $132,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Scotts Miracle-Gro Company (The) by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock valued at $149,000 after buying an additional 116 shares in the last quarter. Delta Asset Management LLC TN grew its holdings in Scotts Miracle-Gro Company (The) by 3.8% in the 2nd quarter. Delta Asset Management LLC TN now owns 2,025 shares of the basic materials company’s stock valued at $181,000 after buying an additional 75 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Scotts Miracle-Gro Company (The) by 44.5% in the 2nd quarter. Creative Planning now owns 2,097 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 646 shares during the last quarter. Institutional investors own 69.07% 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.
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