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 note released on Tuesday.

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

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE opened at $145.48 on Tuesday. The stock’s fifty day simple moving average is $141.00 and its 200 day simple moving average is $141.59. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 47.08 and a beta of 1.56. 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 has a 52-week low of $114.60 and a 52-week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly 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). The company had revenue of $1.21 billion during 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 for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 EPS. As a group, sell-side analysts forecast that SiteOne Landscape Supply will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following 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 SEC, which is accessible through this link. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of SiteOne Landscape Supply

Institutional investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. raised its holdings in shares of SiteOne Landscape Supply by 90.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. increased its position in SiteOne Landscape Supply by 287.7% during the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock worth $38,000 after buying an additional 187 shares during the last quarter. Trust Co. of Vermont increased its position in SiteOne Landscape Supply by 657.9% during the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after buying an additional 250 shares during the last quarter. American National Bank & Trust bought a new position in SiteOne Landscape Supply during the third quarter valued at about $49,000. Finally, Quarry LP acquired a new stake in shares of SiteOne Landscape Supply in the second quarter worth about $61,000.

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.