SiteOne Landscape Supply, Inc. (SITE) Given Consensus Recommendation of “Buy” by Brokerages

SiteOne Landscape Supply, Inc. (NYSE:SITE) has earned an average rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $66.00.

A number of equities analysts have recently commented on the stock. Barclays PLC raised their price objective on shares of SiteOne Landscape Supply from $48.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 9th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $63.00 price objective on shares of SiteOne Landscape Supply in a report on Friday, August 11th. Zacks Investment Research downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Friday, August 11th. UBS AG raised their price objective on shares of SiteOne Landscape Supply from $54.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Finally, BidaskClub raised shares of SiteOne Landscape Supply from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 21st.

Shares of SiteOne Landscape Supply (NYSE:SITE) opened at $72.25 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 2.69 and a debt-to-equity ratio of 2.35. SiteOne Landscape Supply has a 1-year low of $30.87 and a 1-year high of $72.79. The firm has a market cap of $2,850.00 and a price-to-earnings ratio of 65.93.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.14). The company had revenue of $502.40 million during the quarter, compared to the consensus estimate of $506.28 million. SiteOne Landscape Supply had a net margin of 2.49% and a return on equity of 26.42%. SiteOne Landscape Supply’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. equities research analysts predict that SiteOne Landscape Supply will post 1.23 earnings per share for the current year.

In other SiteOne Landscape Supply news, EVP Ross Anker sold 41,824 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $69.09, for a total value of $2,889,620.16. Following the completion of the sale, the executive vice president now owns 88,881 shares in the company, valued at approximately $6,140,788.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.00% of the company’s stock.

Several large investors have recently modified their holdings of SITE. Baillie Gifford & Co. acquired a new stake in shares of SiteOne Landscape Supply during the 2nd quarter worth approximately $211,293,000. FMR LLC grew its position in shares of SiteOne Landscape Supply by 288.4% during the 2nd quarter. FMR LLC now owns 2,017,984 shares of the industrial products company’s stock worth $105,056,000 after buying an additional 1,498,436 shares during the period. BlackRock Inc. grew its position in shares of SiteOne Landscape Supply by 126.1% during the 2nd quarter. BlackRock Inc. now owns 2,013,656 shares of the industrial products company’s stock worth $104,833,000 after buying an additional 1,123,148 shares during the period. Wells Fargo & Company MN grew its position in shares of SiteOne Landscape Supply by 312.3% during the 3rd quarter. Wells Fargo & Company MN now owns 1,366,395 shares of the industrial products company’s stock worth $79,387,000 after buying an additional 1,034,971 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of SiteOne Landscape Supply by 224.3% during the 2nd quarter. Alliancebernstein L.P. now owns 1,459,460 shares of the industrial products company’s stock worth $75,979,000 after buying an additional 1,009,392 shares during the period.

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SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.

Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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