The Scotts Miracle-Gro Company (NYSE:SMG – Get Free Report) hit a new 52-week high on Monday after Stifel Nicolaus raised their price target on the stock from $75.00 to $81.00. Stifel Nicolaus currently has a hold rating on the stock. Scotts Miracle-Gro traded as high as $91.60 and last traded at $90.74, with a volume of 68462 shares trading hands. The stock had previously closed at $89.66.
A number of other equities research analysts also recently weighed in on the company. Truist Financial upped their target price on Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $85.25.
Get Our Latest Stock Report on SMG
Insider Buying and Selling at Scotts Miracle-Gro
Hedge Funds Weigh In On Scotts Miracle-Gro
Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its stake in Scotts Miracle-Gro by 80.1% in the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Scotts Miracle-Gro in the second quarter worth approximately $25,000. Global X Japan Co. Ltd. bought a new position in Scotts Miracle-Gro during the third quarter valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Scotts Miracle-Gro in the second quarter valued at approximately $29,000. Finally, Farther Finance Advisors LLC grew its position in Scotts Miracle-Gro by 427.0% in the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 269 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.
Scotts Miracle-Gro Stock Performance
The company has a market cap of $5.20 billion, a price-to-earnings ratio of -19.36 and a beta of 1.76. The company’s 50 day moving average price is $79.90 and its 200 day moving average price is $72.02.
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.
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