SiteOne Landscape Supply Inc (NYSE:SITE) Receives Consensus Rating of “Hold” from Brokerages

Shares of SiteOne Landscape Supply Inc (NYSE:SITE) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $76.57.

A number of equities research analysts recently issued reports on the company. UBS Group set a $58.00 price objective on SiteOne Landscape Supply and gave the stock a “hold” rating in a research report on Friday, May 3rd. TheStreet upgraded SiteOne Landscape Supply from a “c-” rating to a “b-” rating in a research report on Thursday, June 13th. Zacks Investment Research downgraded SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. ValuEngine upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upgraded SiteOne Landscape Supply from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $64.00 to $77.00 in a research report on Tuesday, June 25th.

In related news, VP Greg Weller sold 922 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $72.05, for a total value of $66,430.10. Following the transaction, the vice president now owns 10,361 shares of the company’s stock, valued at $746,510.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John T. Guthrie sold 15,332 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.25, for a total value of $1,123,069.00. Following the completion of the transaction, the chief financial officer now directly owns 28,452 shares in the company, valued at approximately $2,084,109. The disclosure for this sale can be found here. In the last three months, insiders sold 98,420 shares of company stock worth $6,736,075. 4.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITE. Baillie Gifford & Co. increased its stake in SiteOne Landscape Supply by 55.0% in the second quarter. Baillie Gifford & Co. now owns 4,017,424 shares of the industrial products company’s stock valued at $278,406,000 after acquiring an additional 1,425,508 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of SiteOne Landscape Supply by 22.1% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,968,964 shares of the industrial products company’s stock valued at $169,676,000 after buying an additional 537,624 shares during the last quarter. Wasatch Advisors Inc. grew its stake in shares of SiteOne Landscape Supply by 36.2% during the second quarter. Wasatch Advisors Inc. now owns 1,839,579 shares of the industrial products company’s stock valued at $127,483,000 after buying an additional 488,656 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of SiteOne Landscape Supply by 44.9% during the second quarter. Victory Capital Management Inc. now owns 1,223,095 shares of the industrial products company’s stock valued at $84,760,000 after buying an additional 379,095 shares during the last quarter. Finally, Norges Bank bought a new position in shares of SiteOne Landscape Supply during the fourth quarter valued at about $14,846,000.

Shares of SITE stock traded up $0.80 on Friday, reaching $74.29. The company’s stock had a trading volume of 178,105 shares, compared to its average volume of 415,390. The company has a quick ratio of 1.13, a current ratio of 2.50 and a debt-to-equity ratio of 2.33. SiteOne Landscape Supply has a 12-month low of $45.32 and a 12-month high of $93.68. The company has a market capitalization of $3.15 billion, a P/E ratio of 42.94 and a beta of 1.07. The stock’s 50 day simple moving average is $71.01 and its 200-day simple moving average is $63.03.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.10). SiteOne Landscape Supply had a return on equity of 22.24% and a net margin of 3.08%. The business had revenue of $752.40 million during the quarter, compared to analysts’ expectations of $774.03 million. During the same quarter last year, the business posted $1.48 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts expect that SiteOne Landscape Supply will post 1.62 EPS for the current year.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 120,000 stock keeping units, including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, outdoor lightings, and ice melt products, as well as hardscapes, such as pavers, natural stones, and blocks.

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Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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