SiteOne Landscape Supply (NYSE:SITE) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a sell rating to a hold rating in a research note published on Thursday.

SITE has been the topic of several other research reports. Stifel Nicolaus lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price target on the stock. in a research note on Thursday, August 1st. Royal Bank of Canada cut their target price on 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. The Goldman Sachs Group started coverage on SiteOne Landscape Supply in a research note on Thursday, October 10th. They issued a “neutral” rating and a $158.00 target price on the stock. Robert W. Baird increased their target price on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays increased their target price on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $147.80.

SiteOne Landscape Supply Price Performance

NYSE:SITE traded down $0.12 during trading hours on Thursday, reaching $152.42. The company had a trading volume of 95,747 shares, compared to its average volume of 365,225. The stock has a 50-day moving average of $144.03 and a two-hundred day moving average of $141.60. SiteOne Landscape Supply has a one year low of $114.60 and a one year high of $188.01. The firm has a market capitalization of $6.88 billion, a PE ratio of 49.34 and a beta of 1.53. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. SiteOne Landscape Supply’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. Analysts forecast that SiteOne Landscape Supply will post 3.41 earnings per share for the current year.

Institutional Trading of SiteOne Landscape Supply

Institutional investors and hedge funds have recently modified their holdings of the stock. Norden Group LLC purchased a new stake in shares of SiteOne Landscape Supply during the first quarter valued at approximately $283,000. Envestnet Portfolio Solutions Inc. increased its position in shares of SiteOne Landscape Supply by 22.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 7,403 shares of the industrial products company’s stock valued at $1,292,000 after acquiring an additional 1,336 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of SiteOne Landscape Supply during the first quarter valued at approximately $934,000. Oppenheimer Asset Management Inc. increased its position in shares of SiteOne Landscape Supply by 54.7% during 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 acquiring an additional 7,829 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of SiteOne Landscape Supply by 0.5% during the first quarter. Swiss National Bank now owns 89,100 shares of the industrial products company’s stock valued at $15,552,000 after acquiring an additional 400 shares during the last quarter.

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.