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Benzinga Insights

Truist Securities Downgrades Scotts Miracle Gro: Here's What You Need To Know

Truist Securities downgraded its rating of Scotts Miracle Gro (NYSE:SMG) to Hold with a price target of $85.00, changing its price target from $185.00 to $85.00.

Shares of Scotts Miracle Gro are trading down 9.97% over the last 24 hours, at $91.99 per share.

A move to $85.00 would account for a 7.6% decline from the current share price.

About Scotts Miracle Gro

Scotts Miracle-Gro is the largest provider of gardening and lawncare products in the United States. The majority of the company's sales are to large retailers that include Home Depot, Lowe's, and Walmart. Scotts Miracle-Gro can sell its products at a higher price point than its competition because of a well-recognized portfolio of brands that include Miracle-Gro, Roundup, Ortho, Tomcat, and Scotts. Scotts is also the leading supplier of cannabis-growing equipment in North America through its Hawthorne business.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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