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 twitter 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).



Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners