Scotts Miracle-Gro Company (NYSE: SMG) has seen a rise in its stock price by 6.09 in relation to its previous close of 54.72. However, the company has experienced a 13.96% gain in its stock price over the last five trading sessions. MarijuanaStocks reported 2023-11-14 that The cannabis industry continues to flourish, driven by legalization and increasing acceptance. As we approach the close of 2023, investors are eyeing ancillary marijuana stocks, particularly those supporting US cannabis cultivation.
Is It Worth Investing in Scotts Miracle-Gro Company (NYSE: SMG) Right Now?
The 36-month beta value for SMG is also noteworthy at 1.70. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 0 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
The average price estimated by analysts for SMG is $62.71, which is $4.66 above than the current price. The public float for SMG is 41.59M, and at present, short sellers hold a 10.88% of that float. The average trading volume of SMG on November 16, 2023 was 760.78K shares.
SMG’s Market Performance
SMG stock saw an increase of 13.96% in the past week, with a monthly gain of 15.00% and a quarterly increase of 16.36%. The volatility ratio for the week is 5.11%, and the volatility levels for the last 30 days are 4.67% for Scotts Miracle-Gro Company (SMG). The simple moving average for the last 20 days is 18.93% for SMG stock, with a simple moving average of -8.44% for the last 200 days.
Analysts’ Opinion of SMG
Many brokerage firms have already submitted their reports for SMG stocks, with Stifel repeating the rating for SMG by listing it as a “Hold.” The predicted price for SMG in the upcoming period, according to Stifel is $72 based on the research report published on July 13, 2023 of the current year 2023.
SMG Trading at 15.97% from the 50-Day Moving Average
After a stumble in the market that brought SMG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -34.49% of loss for the given period.
Volatility was left at 4.67%, however, over the last 30 days, the volatility rate increased by 5.11%, as shares surge +16.03% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.06% upper at present.
During the last 5 trading sessions, SMG rose by +13.96%, which changed the moving average for the period of 200-days by -19.59% in comparison to the 20-day moving average, which settled at $49.21. In addition, Scotts Miracle-Gro Company saw 19.47% in overturn over a single year, with a tendency to cut further gains.
Reports are indicating that there were more than several insider trading activities at SMG starting from HAGEDORN JAMES, who sale 16,432 shares at the price of $54.32 back on Nov 03. After this action, HAGEDORN JAMES now owns 44,656 shares of Scotts Miracle-Gro Company, valued at $892,629 using the latest closing price.
HAGEDORN JAMES, the Chairman, CEO and President of Scotts Miracle-Gro Company, sale 64,260 shares at $52.69 during a trade that took place back on Nov 02, which means that HAGEDORN JAMES is holding 61,088 shares at $3,385,731 based on the most recent closing price.
Stock Fundamentals for SMG
Current profitability levels for the company are sitting at:
- +8.21 for the present operating margin
- +23.74 for the gross margin
The net margin for Scotts Miracle-Gro Company stands at -10.70. The total capital return value is set at 10.13, while invested capital returns managed to touch -13.85. Equity return is now at value -47.64, with -9.86 for asset returns.
When we switch over and look at the enterprise to sales, we see a ratio of 1.59, with the company’s debt to enterprise value settled at 0.48. The receivables turnover for the company is 10.40 and the total asset turnover is 0.92. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.81.
In summary, Scotts Miracle-Gro Company (SMG) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.