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AERO

AeroGrow

$3.87

-0.29 (-6.97%)

, SMG

Scotts Miracle-Gro

$91.61

1.44 (1.60%)

08:48
11/30/16
11/30
08:48
11/30/16
08:48

Scotts Miracle-Gro exercises outstanding warrants, has 80% position in AeroGrow

Scotts Miracle-Gro (SMG) announced that SMG Growing Media, Inc., an indirect wholly-owned subsidiary, has exercised its current outstanding warrants to establish an 80% ownership stake in AeroGrow International (AERO). The company, through its subsidiary, established an approximately 31% stake in AeroGrow in 2013. Since that time, the business has demonstrated strong and consistent growth with a leading line of consumer indoor gardening systems. The company's involvement in AeroGrow is managed within its wholly-owned subsidiary, The Hawthorne Gardening Company. Under terms of the transaction, approximately 21.6M shares of AeroGrow were issued to ScottsMiracle-Gro for $47.8M. AeroGrow separately announced today that its board has declared a $41M distribution, equivalent to $1.21 per share, payable Jan. 3, 2017. In addition, AeroGrow is expected to repay ScottsMiracle-Gro a roughly $5.25M loan used for working capital purposes. The net cash outlay for ScottsMiracle-Gro related to the transaction is approximately $9M.

AERO

AeroGrow

$3.87

-0.29 (-6.97%)

SMG

Scotts Miracle-Gro

$91.61

1.44 (1.60%)

AERO AeroGrow
$3.87

-0.29 (-6.97%)

SMG Scotts Miracle-Gro
$91.61

1.44 (1.60%)

08/04/16
JPMS
08/04/16
UPGRADE
Target $85
JPMS
Overweight
Scotts Miracle-Gro upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Jeffrey Zekauskas upgraded Scotts Miracle-Gro to Overweight saying the stock is a "reasonably valued longer-term investment" while acquisitions in the hydroponics market open up new business opportunities. The analyst raised his price target for the shares to $85 from $70.
10/20/16
GABE
10/20/16
INITIATION
Target $113
GABE
Buy
Scotts Miracle-Gro initiated with a Buy at Gabelli
Gabelli analyst Zamane Bodini initiated Scotts Miracle-Gro with a Buy and a $113 price target.
10/20/16
10/20/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Expedia (EXPE) initiated with a Positive at Susquehanna. 2. Analog Devices (ADI) initiated with an Outperform at CLSA. 3. TripAdvisor (TRIP) initiated with a Neutral at Susquehanna. 4. Columbia Sportswear (COLM) initiated with a Neutral at Buckingham. 5. Scotts Miracle-Gro (SMG) initiated with a Buy at Gabelli. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/04/16
RHCO
11/04/16
NO CHANGE
RHCO
Scotts Miracle-Gro guidance looks conservative, says SunTrust
SunTrust analyst William Chappell, Jr.believes that Scotts' fiscal 2017 guidance "looks highly conservative," given its "benefits from favorable commodities, accretion from recent acquisitions, and continued cost saving." He keeps a $95 price target and a Buy rating on the shares.

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NOA

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ISTR

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AMD

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MLHR

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APRN

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DPS

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HBI

Hanesbrands

$24.64

-0.07 (-0.28%)

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TPRE

Third Point Reinsurance

$14.40

-0.1 (-0.69%)

, SAFM

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1.5 (0.93%)

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SAFM

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1.5 (0.93%)

, CAB

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IPCI

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RWLK

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ABM

ABM

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IVTY

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USG

USG

$31.26

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, CBPX

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TRHC

Tabula Rasa HealthCare

$25.66

-0.38 (-1.46%)

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