SiteOne Landscape Supply (NYSE:SITE) PT Lowered to $185.00

SiteOne Landscape Supply (NYSE:SITE) had its price objective cut by stock analysts at UBS Group from $190.00 to $185.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. UBS Group’s price target suggests a potential upside of 53.95% from the company’s previous close.

Several other equities research analysts also recently issued reports on SITE. Truist Financial lowered their price target on SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating for the company in a report on Thursday, June 6th. Stifel Nicolaus lowered their target price on SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Barclays cut their price target on shares of SiteOne Landscape Supply from $133.00 to $129.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 5th. Robert W. Baird reduced their price target on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Finally, Loop Capital dropped their price objective on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating on the stock in a report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $151.75.

SiteOne Landscape Supply Price Performance

SiteOne Landscape Supply stock opened at $120.17 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $5.43 billion, a P/E ratio of 34.83 and a beta of 1.52. The business has a 50-day moving average of $139.22 and a 200-day moving average of $155.93. SiteOne Landscape Supply has a 1 year low of $114.60 and a 1 year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). The firm had revenue of $904.80 million for the quarter, compared to analyst estimates of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) EPS. On average, equities analysts anticipate that SiteOne Landscape Supply will post 3.81 EPS for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black sold 10,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at approximately $93,151,899.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Large investors have recently made changes to their positions in the stock. Wasatch Advisors LP raised its position 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 acquiring an additional 319,071 shares in the last quarter. Jackson Square Partners LLC increased its stake in shares of SiteOne Landscape Supply by 25.6% during the 4th quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock worth $131,588,000 after purchasing an additional 165,067 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of SiteOne Landscape Supply by 100.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 255,922 shares of the industrial products company’s stock valued at $41,587,000 after purchasing an additional 128,076 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of SiteOne Landscape Supply in the 1st quarter valued at about $21,860,000. Finally, Allianz Asset Management GmbH lifted its stake in SiteOne Landscape Supply by 14.7% in the 4th quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock valued at $129,724,000 after purchasing an additional 102,207 shares during the last quarter.

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.