Truist Financial Has Lowered Expectations for Scotts Miracle-Gro (NYSE:SMG) Stock Price

Scotts Miracle-Gro (NYSE:SMG) had its price objective lowered by equities research analysts at Truist Financial from $90.00 to $70.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. Truist Financial’s price target would indicate a potential downside of 3.58% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group lowered their price target on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus upped their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Scotts Miracle-Gro currently has a consensus rating of “Hold” and an average target price of $78.60.

Scotts Miracle-Gro Price Performance

SMG opened at $72.60 on Friday. Scotts Miracle-Gro has a one year low of $48.29 and a one year high of $93.90. The business has a 50 day simple moving average of $80.87 and a two-hundred day simple moving average of $72.46. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of -105.22 and a beta of 1.76.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now directly owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Nathan Eric Baxter sold 2,988 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $211,938.84. Following the sale, the chief operating officer now owns 37,920 shares in the company, valued at approximately $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.46% of the stock is owned by insiders.

Institutional Trading of Scotts Miracle-Gro

Several large investors have recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of Scotts Miracle-Gro by 2.2% in the third quarter. Advisors Asset Management Inc. now owns 54,706 shares of the basic materials company’s stock worth $4,743,000 after buying an additional 1,181 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Scotts Miracle-Gro by 0.7% in the third quarter. PNC Financial Services Group Inc. now owns 30,264 shares of the basic materials company’s stock worth $2,624,000 after acquiring an additional 222 shares during the period. Caprock Group LLC purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth $227,000. Chesapeake Capital Corp IL grew its position in shares of Scotts Miracle-Gro by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 5,079 shares of the basic materials company’s stock valued at $434,000 after acquiring an additional 1,108 shares during the period. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Scotts Miracle-Gro during the 3rd quarter valued at $1,321,000. Institutional investors own 74.07% of the company’s stock.

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.