SiteOne Landscape Supply (NYSE:SITE) Price Target Cut to $114.00 by Analysts at Barclays

SiteOne Landscape Supply (NYSE:SITE) had its price objective reduced by analysts at Barclays from $129.00 to $114.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price objective suggests a potential downside of 13.73% from the stock’s previous close.

Several other research firms also recently issued reports on SITE. Truist Financial dropped their price target on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. Robert W. Baird decreased their price target on SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Loop Capital reduced their target price on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating on the stock in a report on Thursday, June 13th. Jefferies Financial Group lowered their price target on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a report on Thursday. Finally, Stifel Nicolaus reduced their price objective on shares of SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $147.11.

SiteOne Landscape Supply Price Performance

Shares of SITE traded up $2.65 during midday trading on Friday, hitting $132.15. The company’s stock had a trading volume of 147,900 shares, compared to its average volume of 352,285. The company has a quick ratio of 0.96, a current ratio of 2.36 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply has a one year low of $114.60 and a one year high of $188.01. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 38.28 and a beta of 1.52. The company’s fifty day simple moving average is $138.80 and its two-hundred day simple moving average is $155.74.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). The company had revenue of $904.80 million during the quarter, compared to analyst estimates of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) earnings per share. As a group, equities analysts expect that SiteOne Landscape Supply will post 3.81 earnings per share for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total value of $1,621,000.00. Following the completion of the sale, the chief executive officer now owns 574,657 shares in the company, valued at approximately $93,151,899.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legacy Capital Group California Inc. grew its holdings in SiteOne Landscape Supply by 3.2% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,886 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 90 shares during the period. Hills Bank & Trust Co raised its holdings in SiteOne Landscape Supply by 8.7% during the 4th quarter. Hills Bank & Trust Co now owns 1,566 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 125 shares during the period. iA Global Asset Management Inc. lifted its position in shares of SiteOne Landscape Supply by 7.9% during the first quarter. iA Global Asset Management Inc. now owns 1,741 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 127 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of SiteOne Landscape Supply by 4.0% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 4,193 shares of the industrial products company’s stock worth $732,000 after acquiring an additional 162 shares during the period. Finally, Verdence Capital Advisors LLC grew its position in shares of SiteOne Landscape Supply by 9.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 1,950 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 165 shares in the last quarter.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.