SiteOne Landscape Supply (NYSE:SITE) Price Target Cut to $114.00

SiteOne Landscape Supply (NYSE:SITE) had its price objective lowered by equities research analysts at Barclays from $129.00 to $114.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price objective suggests a potential downside of 12.46% from the company’s current price.

Several other equities analysts have also issued reports on SITE. Stifel Nicolaus cut their target price on SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Truist Financial dropped their price target on SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Robert W. Baird dropped their price target on SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Jefferies Financial Group dropped their price target on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Loop Capital dropped their price target on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating on the stock in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $147.11.

SiteOne Landscape Supply Price Performance

SITE opened at $130.22 on Friday. The business’s 50-day moving average is $138.36 and its two-hundred day moving average is $155.51. SiteOne Landscape Supply has a 1 year low of $114.60 and a 1 year high of $188.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.36 and a quick ratio of 0.96. The firm has a market capitalization of $5.89 billion, a PE ratio of 37.74 and a beta of 1.52.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The company had revenue of $904.80 million during the quarter, compared to analysts’ expectations of $864.01 million. During the same quarter last year, the firm earned ($0.10) EPS. SiteOne Landscape Supply’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts anticipate that SiteOne Landscape Supply will post 3.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at $93,151,899.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SITE. Wasatch Advisors LP lifted its holdings in SiteOne Landscape Supply by 47.8% in the first quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock valued at $172,211,000 after acquiring an additional 319,071 shares during the period. Jackson Square Partners LLC raised 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 buying an additional 165,067 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of SiteOne Landscape Supply by 100.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 255,922 shares of the industrial products company’s stock worth $41,587,000 after buying an additional 128,076 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of SiteOne Landscape Supply during the 1st quarter worth approximately $21,860,000. Finally, Allianz Asset Management GmbH raised its stake in shares of SiteOne Landscape Supply by 14.7% during the 4th quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock worth $129,724,000 after buying an additional 102,207 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.