SiteOne Landscape Supply (NYSE:SITE) Downgraded to “Sell” at StockNews.com

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

Several other research analysts have also recently weighed in on SITE. Loop Capital lowered 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. Truist Financial upped their price objective on SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a buy rating in a report on Thursday. Jefferies Financial Group decreased their price objective on SiteOne Landscape Supply from $160.00 to $125.00 and set a hold rating on the stock in a report on Thursday, July 11th. Stifel Nicolaus cut SiteOne Landscape Supply from a buy rating to a hold rating and set a $150.00 price objective on the stock. in a report on Thursday. Finally, UBS Group decreased their price objective on SiteOne Landscape Supply from $190.00 to $185.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, SiteOne Landscape Supply has an average rating of Hold and an average price target of $144.33.

SiteOne Landscape Supply Price Performance

Shares of SiteOne Landscape Supply stock opened at $135.49 on Thursday. The company has a quick ratio of 0.96, a current ratio of 2.47 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 business has a 50-day moving average price of $133.59 and a 200 day moving average price of $153.56. The firm has a market cap of $6.11 billion, a PE ratio of 39.27 and a beta of 1.52.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.50 by $0.13. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business earned $2.71 EPS. SiteOne Landscape Supply’s quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts predict that SiteOne Landscape Supply will post 3.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SITE. Wasatch Advisors LP lifted its stake in SiteOne Landscape Supply by 47.8% during the first quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock worth $172,211,000 after purchasing an additional 319,071 shares in the last quarter. Jackson Square Partners LLC increased its position in shares of SiteOne Landscape Supply by 25.6% during the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock worth $131,588,000 after acquiring an additional 165,067 shares during the period. Bank of New York Mellon Corp increased its position in shares of SiteOne Landscape Supply by 49.3% during the second quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock worth $58,226,000 after acquiring an additional 158,350 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of SiteOne Landscape Supply by 100.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 255,922 shares of the industrial products company’s stock worth $41,587,000 after acquiring an additional 128,076 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of SiteOne Landscape Supply during the first quarter worth $21,860,000.

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.