SiteOne Landscape Supply (NYSE:SITE) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a sell rating to a hold rating in a research report released on Tuesday morning.

Other research analysts have also issued reports about the stock. Barclays raised their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their price target for the company from $145.00 to $175.00 in a research report on Friday, December 6th. Robert W. Baird boosted their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group began coverage on SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $156.44.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $143.65 on Tuesday. The business has a 50-day simple moving average of $141.07 and a 200 day simple moving average of $141.60. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 46.49 and a beta of 1.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. SiteOne Landscape Supply has a one year low of $114.60 and a one year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $1.25 earnings per share. SiteOne Landscape Supply’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that SiteOne Landscape Supply will post 2.94 earnings per share for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $142.20, for a total transaction of $924,300.00. Following the completion of the transaction, the executive vice president now owns 12,942 shares in the company, valued at approximately $1,840,352.40. This represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SITE. Bamco Inc. NY lifted its stake in SiteOne Landscape Supply by 8.9% in the third quarter. Bamco Inc. NY now owns 1,580,342 shares of the industrial products company’s stock valued at $238,489,000 after purchasing an additional 129,252 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of SiteOne Landscape Supply by 11.4% during the 3rd quarter. Wasatch Advisors LP now owns 1,577,651 shares of the industrial products company’s stock valued at $238,083,000 after buying an additional 161,846 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of SiteOne Landscape Supply by 2.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,167,454 shares of the industrial products company’s stock worth $153,835,000 after acquiring an additional 30,725 shares during the period. Geode Capital Management LLC increased its holdings in SiteOne Landscape Supply by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 717,975 shares of the industrial products company’s stock worth $108,381,000 after acquiring an additional 3,434 shares during the last quarter. Finally, Geneva Capital Management LLC raised its stake in SiteOne Landscape Supply by 1.5% in the 3rd quarter. Geneva Capital Management LLC now owns 626,101 shares of the industrial products company’s stock valued at $94,485,000 after acquiring an additional 9,209 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.