Scotts Miracle-Gro (NYSE:SMG – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
Other equities analysts have also recently issued reports about the company. Raymond James reaffirmed a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday. Stifel Nicolaus boosted their target price on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $69.29.
Scotts Miracle-Gro Trading Down 1.1 %
NYSE:SMG traded down $0.78 during mid-day trading on Monday, reaching $72.57. 886,317 shares of the company’s stock traded hands, compared to its average volume of 792,107. Scotts Miracle-Gro has a 12-month low of $43.67 and a 12-month high of $78.25. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of -10.31 and a beta of 1.69. The company has a debt-to-equity ratio of 19.50, a current ratio of 2.20 and a quick ratio of 0.67. The company has a 50 day moving average price of $61.48 and a 200-day moving average price of $57.17.
Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The basic materials company reported ($1.45) earnings per share for the quarter, beating the consensus estimate of ($1.62) by $0.17. The business had revenue of $410.40 million for the quarter, compared to analysts’ expectations of $412.83 million. Scotts Miracle-Gro had a negative return on equity of 44.37% and a negative net margin of 11.52%. The business’s revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.02) EPS. On average, sell-side analysts predict that Scotts Miracle-Gro will post 2.65 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the transaction, the director now directly owns 13,777,012 shares of the company’s stock, valued at $901,154,354.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 1,394 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total value of $79,945.90. Following the completion of the sale, the director now directly owns 22,918 shares in the company, valued at $1,314,347.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 86,356 shares of Scotts Miracle-Gro stock in a transaction on Monday, March 4th. The stock was sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the sale, the director now owns 13,777,012 shares of the company’s stock, valued at $901,154,354.92. The disclosure for this sale can be found here. Insiders have sold 102,750 shares of company stock valued at $6,604,492 in the last ninety days. 26.46% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in Scotts Miracle-Gro by 151.4% in the fourth quarter. Nordea Investment Management AB now owns 194,791 shares of the basic materials company’s stock valued at $12,576,000 after buying an additional 117,314 shares in the last quarter. Brandes Investment Partners LP increased its holdings in Scotts Miracle-Gro by 126.7% in the third quarter. Brandes Investment Partners LP now owns 63,435 shares of the basic materials company’s stock valued at $3,278,000 after buying an additional 35,456 shares in the last quarter. California Public Employees Retirement System increased its holdings in Scotts Miracle-Gro by 19.8% in the third quarter. California Public Employees Retirement System now owns 78,474 shares of the basic materials company’s stock valued at $4,056,000 after buying an additional 12,969 shares in the last quarter. Raymond James & Associates increased its holdings in Scotts Miracle-Gro by 6.5% in the third quarter. Raymond James & Associates now owns 590,658 shares of the basic materials company’s stock valued at $30,525,000 after buying an additional 36,056 shares in the last quarter. Finally, FCF Advisors LLC purchased a new position in Scotts Miracle-Gro in the fourth quarter valued at $1,011,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.
About Scotts Miracle-Gro
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.