Scotts Miracle-Gro (NYSE:SMG) Given a $96.00 Price Target at Bank of America

Bank of America set a $96.00 price target on Scotts Miracle-Gro (NYSE:SMG) in a research note published on Wednesday, TipRanks reports. The brokerage currently has a sell rating on the basic materials company’s stock.

SMG has been the subject of a number of other research reports. TheStreet raised shares of Scotts Miracle-Gro from a c rating to a b rating in a research report on Wednesday, May 1st. SunTrust Banks raised their price target on shares of Scotts Miracle-Gro to $120.00 and gave the stock a positive rating in a research report on Thursday. Finally, ValuEngine raised shares of Scotts Miracle-Gro from a hold rating to a buy rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Scotts Miracle-Gro has a consensus rating of Hold and a consensus price target of $87.42.

NYSE:SMG traded up $1.00 during trading hours on Wednesday, hitting $110.01. The stock had a trading volume of 790,964 shares, compared to its average volume of 321,568. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.00 and a current ratio of 1.59. Scotts Miracle-Gro has a 1-year low of $57.96 and a 1-year high of $114.63. The firm has a 50 day simple moving average of $100.49. The company has a market capitalization of $5.96 billion, a P/E ratio of 29.65, a PEG ratio of 2.26 and a beta of 0.87.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.37. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $2.67 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, equities research analysts expect that Scotts Miracle-Gro will post 4.37 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in SMG. Swiss National Bank raised its stake in shares of Scotts Miracle-Gro by 2.2% during the second quarter. Swiss National Bank now owns 77,300 shares of the basic materials company’s stock valued at $7,614,000 after purchasing an additional 1,700 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Scotts Miracle-Gro during the second quarter valued at about $18,124,000. Envestnet Asset Management Inc. raised its stake in shares of Scotts Miracle-Gro by 7.0% during the second quarter. Envestnet Asset Management Inc. now owns 86,309 shares of the basic materials company’s stock valued at $8,501,000 after purchasing an additional 5,609 shares in the last quarter. Charter Trust Co. raised its position in Scotts Miracle-Gro by 4.0% in the second quarter. Charter Trust Co. now owns 2,989 shares of the basic materials company’s stock worth $294,000 after acquiring an additional 115 shares in the last quarter. Finally, CWM LLC raised its position in Scotts Miracle-Gro by 17.1% in the second quarter. CWM LLC now owns 106,376 shares of the basic materials company’s stock worth $10,478,000 after acquiring an additional 15,508 shares in the last quarter. 66.12% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Company Profile

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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