SiteOne Landscape Supply (NYSE:SITE) Price Target Raised to $130.00

SiteOne Landscape Supply (NYSE:SITE) had its price objective raised by SunTrust Banks from $114.00 to $130.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. The firm currently has a hold rating on the industrial products company’s stock.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada raised their target price on SiteOne Landscape Supply from $99.00 to $106.00 and gave the company an underperform rating in a report on Thursday. Zacks Investment Research upgraded SiteOne Landscape Supply from a hold rating to a strong-buy rating and set a $126.00 target price on the stock in a report on Thursday, June 4th. Odeon Capital Group initiated coverage on SiteOne Landscape Supply in a report on Wednesday, April 8th. They issued a buy rating on the stock. UBS Group lowered SiteOne Landscape Supply from a neutral rating to a sell rating and lifted their price target for the stock from $80.00 to $85.00 in a report on Wednesday, July 8th. Finally, Barclays reiterated a hold rating and set a $78.00 price target on shares of SiteOne Landscape Supply in a report on Monday, April 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $95.78.

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

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $1.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.47. SiteOne Landscape Supply had a return on equity of 24.41% and a net margin of 4.00%. The company had revenue of $817.70 million for the quarter, compared to analyst estimates of $748.74 million. During the same quarter last year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that SiteOne Landscape Supply will post 1.71 earnings per share for the current fiscal year.

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

A number of large investors have recently added to or reduced their stakes in the business. National Asset Management Inc. purchased a new position in shares of SiteOne Landscape Supply in the second quarter valued at $223,000. Moody Aldrich Partners LLC purchased a new position in shares of SiteOne Landscape Supply in the second quarter valued at $2,250,000. M&T Bank Corp purchased a new position in shares of SiteOne Landscape Supply in the second quarter valued at $1,166,000. Raymond James & Associates grew its position in shares of SiteOne Landscape Supply by 31.7% in the second quarter. Raymond James & Associates now owns 121,548 shares of the industrial products company’s stock valued at $13,853,000 after purchasing an additional 29,290 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of SiteOne Landscape Supply by 63.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,759 shares of the industrial products company’s stock valued at $542,000 after purchasing an additional 1,848 shares in the last quarter.

SiteOne Landscape Supply Company Profile

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.

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Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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