UBS Group Issues Pessimistic Forecast for Scotts Miracle-Gro (NYSE:SMG) Stock Price

Scotts Miracle-Gro (NYSE:SMG) had its target price reduced by research analysts at UBS Group from $62.00 to $61.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price target points to a potential upside of 7.33% from the stock’s previous close.

A number of other brokerages have also issued reports on SMG. Wall Street Zen lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Stifel Nicolaus set a $70.00 target price on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group boosted their price target on Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Research lowered Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

Scotts Miracle-Gro Price Performance

Shares of SMG traded up $0.82 during midday trading on Thursday, hitting $56.84. The stock had a trading volume of 621,433 shares, compared to its average volume of 964,822. The stock’s 50 day moving average is $57.64 and its 200 day moving average is $60.44. The firm has a market cap of $3.28 billion, a PE ratio of 75.02 and a beta of 1.96. Scotts Miracle-Gro has a 1 year low of $45.61 and a 1 year high of $83.55.

Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, November 5th. The basic materials company reported ($1.96) EPS for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.08). Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The business 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 posted ($2.31) EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. As a group, equities research analysts expect that Scotts Miracle-Gro will post 3.42 earnings per share for the current fiscal year.

Insider Activity at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 56,633 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $63.02, for a total value of $3,569,011.66. Following the transaction, the director directly owned 13,217,641 shares of the company’s stock, valued at approximately $832,975,735.82. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark J. Scheiwer acquired 1,790 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average price of $61.32 per share, with a total value of $109,762.80. Following the completion of the transaction, the executive vice president owned 10,130 shares of the company’s stock, valued at $621,171.60. The trade was a 21.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 25.37% of the company’s stock.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several large investors have recently bought and sold shares of the stock. Caprock Group LLC acquired a new position in Scotts Miracle-Gro during the 3rd quarter worth approximately $1,677,000. Advisors Asset Management Inc. raised its holdings in Scotts Miracle-Gro by 12.1% during the third quarter. Advisors Asset Management Inc. now owns 17,389 shares of the basic materials company’s stock worth $990,000 after purchasing an additional 1,877 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in Scotts Miracle-Gro by 41.8% in the third quarter. Baader Bank Aktiengesellschaft now owns 5,004 shares of the basic materials company’s stock worth $285,000 after acquiring an additional 1,476 shares in the last quarter. Versor Investments LP acquired a new position in Scotts Miracle-Gro during the third quarter worth about $1,355,000. Finally, Bryce Point Capital LLC acquired a new position in Scotts Miracle-Gro during the third quarter worth $666,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

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.