The Scotts Miracle-Gro Company (NYSE:SMG) finished Friday with a subtraction of -$0.86 to close at $51.91, a downside of -1.63 percent. An average of 771,320 shares of common stock have been traded in the last five days. There was a fall of -$3.69 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 820,485 shares traded, while the 50-day average volume stands at 801,266.
SMG stock has decreased by -26.02% in the last month. The company shares reached their 1-month lowest point of $51.69 on 08/11/23. With the stock rallying to its 52-week high on 02/16/23, shares of the company touched a low of $39.06 and a high of $88.61 in 52 weeks. It has reached a new high 15 times so far this year and achieved 6.83% or $3.32 in price. In spite of this, the price is down -41.42% from the 52-week high.
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Insider Transactions
SMG stock investors should be aware that The Scotts Miracle-Gro Company (SMG) stock had its last reported insider trading activity 5 days ago on Aug 07. In this transaction, the insider spent $357,558. Chairman and CEO, HAGEDORN JAMES, disposed of 48,549 shares at a price of $56.43 on Aug 04. The insider now owns more than $2,739,784 worth of shares. Prior to that, Chairman and CEO HAGEDORN JAMES went on to Sale 25,000 shares at $67.00 each on May 12. An amount of $1,674,909 was transacted.
Valuation Metrics
The Scotts Miracle-Gro Company (SMG) stock’s beta is 1.67. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.80, the price-to-book (PB) ratio at 21.10.
Financial Health
The quick ratio of The Scotts Miracle-Gro Company for the three months ended June 29 was 1.20, and the current ratio was 2.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 22.82 and a total debt to equity ratio of 25.99 for the quarter ending June 29. The Scotts Miracle-Gro Company’s EBITDA margin for the year ending June 29 is 12.89%, while its operating margin for the same period stands at -12.00%. Its gross profit as reported stood at $872.9 million compared to revenue of $3.92 billion.
Earnings Surprise
For the three-month period that ended June 29, The Scotts Miracle-Gro Company had $2.63 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $43.7 million in the quarter, while revenues were grew 1115.79%. The analyst consensus anticipated The Scotts Miracle-Gro Company’s latest quarter earnings to come in at $1.45 per share, but it turned out to be $1.17, a -19.30% surprise. For the quarter, EBITDA amounted to $100.0 million. Shareholders own equity worth $56.16 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at The Scotts Miracle-Gro Company (SMG) price momentum. RSI 9-day as of the close on 11 August was 21.15%, suggesting the stock is oversold, with historical volatility in this time frame at 98.86%.
As of today, SMG’s price is $53.01 -6.64% or -$3.69 from its 5-day moving average. SMG is currently trading -22.76% lower than its 20-day SMA and -27.14% lower than its 100-day SMA. However, the stock’s current price level is -17.86% below the SMA50 and +16.44% above the SMA200.
The stochastic %K and %D were 2.22% and 2.44%, respectively, and the average true range (ATR) was 2.74. With the 14-day stochastic at 1.07% and the average true range at 2.81, the RSI (14) stands at 27.77%. The stock has reached -3.97 on the 9-day MACD Oscillator while the 14-day reading was at -8.73.
Analyst Ratings
Stifel downgraded The Scotts Miracle-Gro Company (NYSE: SMG) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for The Scotts Miracle-Gro Company (SMG) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SMG, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 6 others rate it as a “buy”.
What is SMG’s price target for the next 12 months?
Analysts predict a range of price targets between $55.00 and $75.00, with a median target of $70.00. Taking a look at these predictions, the average price target given by analysts for The Scotts Miracle-Gro Company (SMG) stock is $67.75.
