SiteOne Landscape Supply, Inc. (NYSE:SITE) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) have received a consensus rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $144.33.

A number of analysts have recently issued reports on SITE shares. Royal Bank of Canada dropped their price objective on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Barclays cut their price objective on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Loop Capital lowered their target price on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a research note on Thursday, June 13th. Jefferies Financial Group cut their price target on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Stifel Nicolaus lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price objective for the company. in a research note on Thursday, August 1st.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $135.72 on Friday. The firm’s fifty day simple moving average is $134.40 and its 200 day simple moving average is $149.78. The company has a current ratio of 2.47, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. SiteOne Landscape Supply has a twelve month low of $114.60 and a twelve month high of $188.01. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 39.34 and a beta of 1.53.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.13. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 earnings per share. As a group, equities research analysts expect that SiteOne Landscape Supply will post 3.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Fred M. Diaz sold 878 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $129.04, for a total transaction of $113,297.12. Following the transaction, the director now directly owns 11,267 shares in the company, valued at $1,453,893.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its position in shares of SiteOne Landscape Supply by 5.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 34,701 shares of the industrial products company’s stock worth $5,639,000 after purchasing an additional 1,922 shares during the period. Cetera Advisors LLC acquired a new stake in SiteOne Landscape Supply in the first quarter worth $708,000. Picton Mahoney Asset Management lifted its stake in SiteOne Landscape Supply by 3,279.9% in the first quarter. Picton Mahoney Asset Management now owns 24,842 shares of the industrial products company’s stock valued at $4,337,000 after buying an additional 24,107 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in SiteOne Landscape Supply by 54.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 22,151 shares of the industrial products company’s stock valued at $3,866,000 after buying an additional 7,829 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of SiteOne Landscape Supply during the first quarter valued at $16,757,000.

SiteOne Landscape Supply Company Profile

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.