SMG Springs Higher on Revised Outlook

The equity is up 50% year-over-year

Digital Content Manager
Jun 9, 2020 at 10:59 AM
facebook X logo linkedin


The shares of Scotts Miracle-Gro Co (NYSE: SMG) are up 2.57% at $142.57 this morning, after the company revised its full-year sales and profit outlook amid increased demand for its soil and plant food products. The lawn and garden giant said an unprecedented number of consumers have picked up gardening during coronavirus-related lockdowns, and now expects to see a 16%-18% increase in full-year sales growth, more than double its original projections. 

As mentioned above, the timeless hobby seems popular during times of social isolation. On the charts, SMG was able to weather its mid-March lows near the $76 level, springing up to an all-time high of $151.03 May 15. Since then, the equity has cooled off slightly, today running into overhead resistance at the $145 mark. Regardless, SMG is now sporting a 50% year-over-year surplus. 

Despite its positive price action, analysts were hesitant toward the equity coming into today, with three of the five in coverage sporting a tepid "hold," and the remaining two carrying a "strong buy." However, optimism is running high in the options pits, where SMG's 50-day call/put volume ratio of 2.84 ranks in the 86th annual percentile at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI