SiteOne Landscape Supply (NYSE:SITE) Rating Increased to Hold at StockNews.com

SiteOne Landscape Supply (NYSE:SITE) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Other research analysts also recently issued reports about the stock. Robert W. Baird lifted their price target on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Jefferies Financial Group cut their target price on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada cut their target price on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price on the stock. in a report on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on shares of SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $147.80.

SiteOne Landscape Supply Price Performance

Shares of SITE stock traded up $1.94 during trading hours on Thursday, hitting $152.46. 270,861 shares of the company’s stock were exchanged, compared to its average volume of 366,473. The company has a market capitalization of $6.88 billion, a PE ratio of 49.34 and a beta of 1.53. SiteOne Landscape Supply has a 12-month low of $114.60 and a 12-month high of $188.01. The business’s 50 day simple moving average is $144.03 and its 200-day simple moving average is $141.60. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.21). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. On average, equities research analysts anticipate that SiteOne Landscape Supply will post 3.06 earnings per share for the current year.

Institutional Trading of SiteOne Landscape Supply

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Advisors LLC purchased a new position in shares of SiteOne Landscape Supply in the first quarter worth approximately $708,000. Picton Mahoney Asset Management boosted its stake in shares of SiteOne Landscape Supply by 3,279.9% during 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 purchasing an additional 24,107 shares during the period. Oppenheimer Asset Management Inc. boosted its stake 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 purchasing an additional 7,829 shares during the period. Swedbank AB purchased a new stake in SiteOne Landscape Supply in the first quarter worth about $16,757,000. Finally, Cetera Investment Advisers lifted its stake in SiteOne Landscape Supply by 143.8% in the first quarter. Cetera Investment Advisers now owns 12,281 shares of the industrial products company’s stock worth $2,144,000 after acquiring an additional 7,244 shares during the period.

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.