The stock of Scotts Miracle-Gro Co (NYSE:SMG) hit a new 52-week high and has $136.95 target or 54.00% above today’s $88.93 share price. The 8 months bullish chart indicates low risk for the $5.36 billion company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $136.95 price target is reached, the company will be worth $2.89B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 432,319 shares traded hands or 4.46% up from the average. Scotts Miracle-Gro Co (NYSE:SMG) has risen 19.02% since April 1, 2016 and is uptrending. It has outperformed by 17.81% the S&P500.
Scotts Miracle-Gro Co (NYSE:SMG) Ratings Coverage
Out of 2 analysts covering Scotts Miracle-Gro Company (The) (NYSE:SMG), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Scotts Miracle-Gro Company (The) has been the topic of 3 analyst reports since March 22, 2016 according to StockzIntelligence Inc. On Thursday, August 4 the stock rating was upgraded by JP Morgan to “Overweight”. The stock of Scotts Miracle-Gro Co (NYSE:SMG) earned “Buy” rating by Gabelli on Thursday, October 20. The rating was downgraded by JP Morgan to “Neutral” on Tuesday, March 22.
According to Zacks Investment Research, “The Scotts Miracle-Gro Company, through its wholly-owned subsidiary, The Scotts Company LLC, is the world’s largest marketer of branded consumer products for lawn and garden care, with products for professional horticulture as well. The Company’s brands are the most recognized in the industry. In the U.S., the Company’s Scotts, Miracle-Gro, Ortho and Smith & Hawken brands are market-leading in their categories, as is the consumer Roundup brand, which is marketed in North America and most of Europe exclusively by Scotts and owned by Monsanto. In the U.S. the Company operates Scotts LawnService0, the second largest residential lawn care service business. In Europe, the Company’s brands include Weedol, Pathclear, Evergreen, Levington, Miracle-Gro, KB, Fertiligene and Substral. Its customers include home improvement centers, mass merchandisers, warehouse clubs, hardware chains, independent hardware stores, nurseries, food and drug stores, commercial nurseries and greenhouses, and specialty crop growers.”
Insitutional Activity: The institutional sentiment increased to 1.31 in 2016 Q2. Its up 0.02, from 1.29 in 2016Q1. The ratio increased, as 26 funds sold all Scotts Miracle-Gro Co shares owned while 82 reduced positions. 35 funds bought stakes while 106 increased positions. They now own 40.29 million shares or 2.94% less from 41.51 million shares in 2016Q1.
Legal & General Grp Public Limited Company accumulated 18,603 shares or 0% of the stock. Metropolitan Life Ny has 0.02% invested in the company for 44,452 shares. Ig Investment Mgmt Limited last reported 4,823 shares in the company. Moreover, Waddell & Reed Financial has 0.17% invested in Scotts Miracle-Gro Co (NYSE:SMG) for 1.12M shares. Clinton, a New York-based fund reported 3,042 shares. Driehaus Management Limited Liability Com accumulated 7,624 shares or 0.02% of the stock. Earnest Prtnrs Ltd Com owns 1.50 million shares or 1.14% of their US portfolio. Cadence Mgmt Ltd Liability has invested 0.04% of its portfolio in Scotts Miracle-Gro Co (NYSE:SMG). Confluence Wealth Management Limited accumulated 3,066 shares or 0.11% of the stock. Proshare Advsr Limited Liability Corporation last reported 0.01% of its portfolio in the stock. Cowen, a New York-based fund reported 4,095 shares. Janney Montgomery Scott Ltd Liability accumulated 0.01% or 4,708 shares. Baxter Bros reported 4,640 shares or 0.11% of all its holdings. Moreover, Blackrock Inv Mgmt Ltd Liability Corporation has 0.01% invested in Scotts Miracle-Gro Co (NYSE:SMG) for 129,725 shares. Century Capital Mngmt Limited Com accumulated 0.48% or 61,703 shares.
Insider Transactions: Since May 12, 2016, the stock had 0 insider buys, and 8 insider sales for $8.69 million net activity. $367,740 worth of Scotts Miracle-Gro Co (NYSE:SMG) was sold by STUMP DENISE. The insider HAGEDORN KATHERINE LITTLEFIELD sold 15,050 shares worth $1.24 million. HAGEDORN JAMES also sold $2.99M worth of Scotts Miracle-Gro Co (NYSE:SMG) shares. Smith Ivan C had sold 1,394 shares worth $115,590 on Wednesday, August 31. 789 shares were sold by Coleman Thomas Randal, worth $65,211 on Thursday, October 6. The insider KELLY THOMAS N JR sold 5,000 shares worth $411,003. $3.10 million worth of Scotts Miracle-Gro Co (NYSE:SMG) was sold by Lukemire Michael C on Friday, August 5.
More notable recent Scotts Miracle-Gro Co (NYSE:SMG) news were published by: Fool.com which released: “Here’s Why The Scotts Miracle-Gro Company Stock Rose 11.5% in August” on September 09, 2016, also Seekingalpha.com with their article: “Scotts Miracle-Gro: Smoke And Mirrors?” published on October 19, 2016, Prnewswire.com published: “Scotts Miracle-Gro Launches “The Connected Yard” At SXSW” on March 11, 2016. More interesting news about Scotts Miracle-Gro Co (NYSE:SMG) were released by: Seekingalpha.com and their article: “It’s Just The Beginning For Scotts Miracle-Gro Company” published on October 05, 2016 as well as Forbes.com‘s news article titled: “Cannabis Capitalist: Scotts Miracle-Gro CEO Bets Big On Pot Growers” with publication date: July 06, 2016.
SMG Company Profile
The Scotts Miracle-Gro Company (Scotts Miracle-Gro), incorporated on November 22, 2004, is a maker and marketer of branded consumer lawn and garden products. The Company’s divisions include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products. In the United Kingdom, its brands include Miracle-Gro plant fertilizers; Roundup, Weedol and Pathclear herbicides; EverGreen lawn fertilizers, and Levington gardening and landscape products.
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