Royal Bank of Canada Boosts SiteOne Landscape Supply (NYSE:SITE) Price Target to $106.00

SiteOne Landscape Supply (NYSE:SITE) had its price objective upped by Royal Bank of Canada from $99.00 to $106.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. They currently have an underperform rating on the industrial products company’s stock.

Several other analysts have also recently issued reports on the stock. Barclays reaffirmed a hold rating and set a $78.00 price objective on shares of SiteOne Landscape Supply in a research note on Monday, April 20th. Zacks Investment Research raised shares of SiteOne Landscape Supply from a hold rating to a strong-buy rating and set a $126.00 price target for the company in a research note on Thursday, June 4th. Jefferies Financial Group increased their price target on shares of SiteOne Landscape Supply from $115.00 to $135.00 and gave the company a buy rating in a research note on Wednesday, June 10th. Robert W. Baird cut shares of SiteOne Landscape Supply from an outperform rating to a neutral rating and set a $64.00 price target for the company. in a research note on Monday, April 6th. Finally, Odeon Capital Group began coverage on shares of SiteOne Landscape Supply in a research note on Wednesday, April 8th. They issued a buy rating for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. SiteOne Landscape Supply has a consensus rating of Hold and a consensus price target of $95.78.

Shares of NYSE SITE opened at $128.03 on Thursday. SiteOne Landscape Supply has a 12-month low of $53.29 and a 12-month high of $131.25. The stock has a market cap of $5.36 billion, a PE ratio of 56.15 and a beta of 1.28. The company has a current ratio of 2.43, a quick ratio of 0.94 and a debt-to-equity ratio of 1.77. The company has a 50-day moving average of $112.54 and a 200 day moving average of $95.70.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.47. SiteOne Landscape Supply had a net margin of 4.00% and a return on equity of 24.41%. The company had revenue of $817.70 million during the quarter, compared to analysts’ expectations of $748.74 million. During the same quarter in the prior year, the company earned $1.52 EPS. SiteOne Landscape Supply’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that SiteOne Landscape Supply will post 1.71 EPS for the current fiscal year.

In other news, EVP L Briley Brisendine, Jr. sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $106.02, for a total value of $572,508.00. Following the transaction, the executive vice president now directly owns 24,634 shares in the company, valued at approximately $2,611,696.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Doug Black sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $106.80, for a total transaction of $1,602,000.00. Following the completion of the transaction, the chief executive officer now owns 383,065 shares in the company, valued at $40,911,342. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,400 shares of company stock worth $3,826,608. Company insiders own 3.49% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SITE. Nisa Investment Advisors LLC acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth approximately $26,000. Pearl River Capital LLC acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth approximately $35,000. Tower Research Capital LLC TRC acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth approximately $54,000. Harvest Fund Management Co. Ltd acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth approximately $65,000. Finally, Bessemer Group Inc. acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth approximately $68,000.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 120,000 stock keeping units, including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, outdoor lightings, and ice melt products, as well as hardscapes, such as pavers, natural stones, and blocks.

Read More: Cost of equity and a company’s balance sheet

Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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