StockNews.com Upgrades SiteOne Landscape Supply (NYSE:SITE) to Hold

StockNews.com upgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Several other equities research analysts also recently weighed in on SITE. Stifel Nicolaus downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price target for the company. in a research note on Thursday, August 1st. Truist Financial lifted their price target on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays lifted their price target 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. Jefferies Financial Group decreased their price target on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, Robert W. Baird lifted their price target on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $147.80.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE opened at $151.93 on Thursday. SiteOne Landscape Supply has a twelve month low of $114.60 and a twelve month high of $188.01. The firm has a fifty day simple moving average of $144.23 and a 200 day simple moving average of $141.26. The company has a market capitalization of $6.86 billion, a PE ratio of 49.17 and a beta of 1.53. 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 (NYSE:SITE) last announced its 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). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business earned $1.25 EPS. SiteOne Landscape Supply’s quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that SiteOne Landscape Supply will post 3.41 EPS for the current year.

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of institutional investors and hedge funds have recently made changes to their positions in SITE. Bank of New York Mellon Corp raised its holdings in shares of SiteOne Landscape Supply by 49.3% in the 2nd 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 last quarter. Lord Abbett & CO. LLC bought a new stake in SiteOne Landscape Supply in the 1st quarter worth about $21,860,000. Vaughan Nelson Investment Management L.P. grew its position in SiteOne Landscape Supply by 130.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company’s stock worth $24,065,000 after purchasing an additional 112,362 shares in the last quarter. American Century Companies Inc. grew its position in SiteOne Landscape Supply by 44.3% in the 2nd quarter. American Century Companies Inc. now owns 360,079 shares of the industrial products company’s stock worth $43,717,000 after purchasing an additional 110,589 shares in the last quarter. Finally, Swedbank AB bought a new stake in SiteOne Landscape Supply in the 1st quarter worth about $16,757,000.

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.