SunTrust Banks Lowers Scotts Miracle-Gro (SMG) Price Target to $80.00

Scotts Miracle-Gro (NYSE:SMG) had its target price decreased by equities researchers at SunTrust Banks to $80.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. SunTrust Banks’ price target suggests a potential downside of 6.04% from the company’s previous close.

Several other brokerages have also weighed in on SMG. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $121.00 price objective on the stock in a report on Wednesday, January 10th. Bank of America set a $120.00 price objective on shares of Scotts Miracle-Gro and gave the company a “buy” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $100.50.

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Shares of NYSE SMG opened at $85.14 on Wednesday. Scotts Miracle-Gro has a 1-year low of $81.48 and a 1-year high of $110.12. The stock has a market cap of $4,779.38, a PE ratio of 21.61, a P/E/G ratio of 1.61 and a beta of 0.27. The company has a current ratio of 2.09, a quick ratio of 0.61 and a debt-to-equity ratio of 3.34.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.16). Scotts Miracle-Gro had a net margin of 9.11% and a return on equity of 38.33%. The company had revenue of $221.50 million for the quarter, compared to analyst estimates of $237.21 million. During the same quarter in the prior year, the company posted ($0.96) EPS. Scotts Miracle-Gro’s revenue for the quarter was down 10.3% on a year-over-year basis. equities analysts anticipate that Scotts Miracle-Gro will post 4.7 EPS for the current year.

In other news, Director Katherine Littlefield Hagedorn sold 2,892 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $89.50, for a total transaction of $258,834.00. Following the transaction, the director now owns 9,043 shares in the company, valued at $809,348.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 29.14% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of SMG. Carillon Tower Advisers Inc. bought a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth about $27,573,000. Landscape Capital Management L.L.C. bought a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth about $13,259,000. TimesSquare Capital Management LLC increased its position in shares of Scotts Miracle-Gro by 11.2% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,090,700 shares of the basic materials company’s stock worth $116,694,000 after acquiring an additional 110,250 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Scotts Miracle-Gro by 1,207.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 119,380 shares of the basic materials company’s stock worth $12,772,000 after acquiring an additional 110,247 shares in the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth about $6,103,000. 66.63% of the stock is owned by institutional investors.

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About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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