Scotts Miracle-Gro (SMG) Downgraded by ValuEngine to “Hold”

Scotts Miracle-Gro (NYSE:SMG) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, ValuEngine reports.

A number of other equities analysts also recently issued reports on SMG. Raymond James downgraded Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 price objective for the company. in a report on Wednesday, March 27th. They noted that the move was a valuation call. TheStreet upgraded Scotts Miracle-Gro from a “c” rating to a “b” rating in a report on Wednesday, May 1st. Bank of America downgraded Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $81.00 to $83.00 in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price objective for the company in a report on Thursday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Scotts Miracle-Gro presently has a consensus rating of “Hold” and a consensus target price of $79.82.

SMG traded down $0.54 during trading on Wednesday, reaching $86.85. The stock had a trading volume of 356,900 shares, compared to its average volume of 501,256. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 3.28. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.91 and a beta of 0.94. Scotts Miracle-Gro has a one year low of $57.96 and a one year high of $94.49.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.42 by $0.22. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Scotts Miracle-Gro had a return on equity of 53.15% and a net margin of 8.67%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.88 earnings per share. On average, analysts predict that Scotts Miracle-Gro will post 4.25 EPS for the current year.

Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Scotts Miracle-Gro by 0.9% during the first quarter. BlackRock Inc. now owns 3,664,827 shares of the basic materials company’s stock valued at $287,982,000 after acquiring an additional 32,376 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Scotts Miracle-Gro by 19.6% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,576,340 shares of the basic materials company’s stock valued at $202,449,000 after acquiring an additional 422,350 shares in the last quarter. FMR LLC increased its holdings in shares of Scotts Miracle-Gro by 21.5% during the fourth quarter. FMR LLC now owns 2,363,127 shares of the basic materials company’s stock valued at $145,238,000 after acquiring an additional 418,722 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Scotts Miracle-Gro by 3.9% during the fourth quarter. Fisher Asset Management LLC now owns 1,522,881 shares of the basic materials company’s stock valued at $93,596,000 after acquiring an additional 56,467 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Scotts Miracle-Gro by 19.9% during the first quarter. Wells Fargo & Company MN now owns 732,100 shares of the basic materials company’s stock valued at $57,529,000 after acquiring an additional 121,489 shares in the last quarter. Hedge funds and other institutional investors own 65.12% of the company’s stock.

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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