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

SiteOne Landscape Supply (NYSE:SITE) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Other equities research analysts have also recently issued research reports about the stock. Barclays boosted their target price on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group began coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They issued a “neutral” rating and a $158.00 target price on the stock. Jefferies Financial Group raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and upped their price target for the stock from $145.00 to $175.00 in a report on Friday, December 6th. Finally, Robert W. Baird boosted their target price on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of “Hold” and an average price target of $156.44.

SiteOne Landscape Supply Stock Down 1.7 %

Shares of NYSE:SITE opened at $142.87 on Tuesday. SiteOne Landscape Supply has a 1 year low of $114.60 and a 1 year high of $188.01. The company has a market capitalization of $6.45 billion, a PE ratio of 46.24 and a beta of 1.56. The business has a fifty day moving average price of $141.00 and a two-hundred day moving average price 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.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share 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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company posted $1.25 earnings per share. SiteOne Landscape Supply’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts forecast that SiteOne Landscape Supply will post 2.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Joseph Ketter sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total transaction of $924,300.00. Following the transaction, the executive vice president now directly owns 12,942 shares in the company, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.