Scotts Miracle-Gro (NYSE:SMG) had its target price boosted by SunTrust Banks from $155.00 to $180.00 in a note issued to investors on Thursday, AnalystRatings.com reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. SunTrust Banks’ price objective would suggest a potential upside of 13.51% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. TheStreet raised Scotts Miracle-Gro from a “c+” rating to a “b” rating in a research note on Wednesday, May 6th. William Blair reaffirmed a “buy” rating on shares of Scotts Miracle-Gro in a research note on Tuesday, June 9th. Finally, Raymond James lowered Scotts Miracle-Gro from a “strong-buy” rating to a “market perform” rating and set a $152.00 target price on the stock. in a report on Tuesday, May 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $128.50.
NYSE:SMG opened at $158.57 on Thursday. Scotts Miracle-Gro has a twelve month low of $76.50 and a twelve month high of $167.46. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 25.08 and a beta of 0.93. The company has a current ratio of 1.61, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average of $137.83 and a 200-day moving average of $123.79.
In related news, major shareholder Hagedorn Partnership, L.P. sold 9,500 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $130.24, for a total value of $1,237,280.00. Following the transaction, the insider now owns 14,689,321 shares in the company, valued at approximately $1,913,137,167.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Robert Hagedorn sold 30,732 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $132.08, for a total value of $4,059,082.56. Following the transaction, the insider now owns 14,778,221 shares in the company, valued at approximately $1,951,907,429.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,442 shares of company stock worth $33,190,830. 28.20% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at approximately $2,654,000. Private Capital Group LLC increased its holdings in shares of Scotts Miracle-Gro by 13.0% during the first quarter. Private Capital Group LLC now owns 924 shares of the basic materials company’s stock worth $95,000 after buying an additional 106 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in shares of Scotts Miracle-Gro by 32.7% during the 1st quarter. Sowell Financial Services LLC now owns 475 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 117 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Scotts Miracle-Gro by 62.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 120 shares during the last quarter. Finally, Eukles Asset Management increased its holdings in Scotts Miracle-Gro by 4.0% in the 1st quarter. Eukles Asset Management now owns 3,452 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 133 shares in the last quarter. 63.07% of the stock is currently owned by hedge funds and other institutional investors.
About Scotts Miracle-Gro
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
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