SiteOne Landscape Supply, Inc. (NYSE:SITE) Receives Average Recommendation of “Hold” from Brokerages

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) have earned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $156.44.

Several equities research analysts have recently commented on SITE shares. The Goldman Sachs Group began coverage on SiteOne Landscape Supply in a research note on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price objective for the company. Robert W. Baird boosted their price objective 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. Jefferies Financial Group upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their target price for the stock from $145.00 to $175.00 in a research note on Friday, December 6th. StockNews.com raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays lifted their target price 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.

Insider Transactions at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the transaction, the executive vice president now directly owns 12,942 shares of the company’s stock, valued at approximately $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC lifted its holdings in shares of SiteOne Landscape Supply by 20.3% in the 2nd quarter. Hsbc Holdings PLC now owns 4,563 shares of the industrial products company’s stock valued at $555,000 after acquiring an additional 769 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of SiteOne Landscape Supply by 16.8% in the 2nd quarter. Bank of Montreal Can now owns 10,772 shares of the industrial products company’s stock valued at $1,356,000 after purchasing an additional 1,547 shares during the last quarter. Xponance Inc. lifted its stake in shares of SiteOne Landscape Supply by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,069 shares of the industrial products company’s stock valued at $373,000 after purchasing an additional 214 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of SiteOne Landscape Supply by 687.6% in the 2nd quarter. Marshall Wace LLP now owns 10,884 shares of the industrial products company’s stock worth $1,321,000 after purchasing an additional 9,502 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of SiteOne Landscape Supply during the 2nd quarter valued at approximately $1,525,000.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $145.48 on Wednesday. SiteOne Landscape Supply has a one year low of $114.60 and a one year high of $188.01. The business has a fifty day moving average of $141.00 and a 200 day moving average of $141.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The firm has a market capitalization of $6.56 billion, a P/E ratio of 47.08 and a beta of 1.56.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that SiteOne Landscape Supply will post 2.94 EPS for the current year.

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.