SiteOne Landscape Supply (NYSE:SITE) Stock Gets Price Target Bump from UBS Group

Key Points

• UBS raised SiteOne Landscape Supply’s price target from $110 to $122 while maintaining a neutral rating, implying approximately 12% upside from the stock’s $108.92 price.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $123; recent firms lowered targets, though KeyCorp retained an overweight rating.
• SiteOne’s latest results met EPS expectations at $1.46, while revenue rose 2.6% year over year to $1.29 billion but came slightly below analyst forecasts.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) had its price objective upped by UBS Group from $110.00 to $122.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. UBS Group's target price would indicate a potential upside of 12.01% from the company's current price.

Several other research firms have also recently weighed in on SITE. Stifel Nicolaus cut their price target on shares of SiteOne Landscape Supply from $100.00 to $94.00 and set a "hold" rating on the stock in a report on Monday. KeyCorp decreased their price objective on shares of SiteOne Landscape Supply from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. William Blair reaffirmed a "market perform" rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 7th. Weiss Ratings raised shares of SiteOne Landscape Supply from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, October 22nd. Finally, Royal Bank Of Canada reduced their price target on shares of SiteOne Landscape Supply from $135.00 to $124.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 7th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $123.00.

SiteOne Landscape Supply Trading Up 4.7%

SITE traded up $4.92 during midday trading on Thursday, reaching $108.92. 601,580 shares of the company's stock traded hands, compared to its average volume of 826,014. SiteOne Landscape Supply has a 52 week low of $82.00 and a 52 week high of $168.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. The firm has a fifty day moving average of $94.08 and a two-hundred day moving average of $116.92. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.73 and a beta of 1.38.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results on Wednesday, October 28th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.46. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.30 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%. The business's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. On average, equities analysts anticipate that SiteOne Landscape Supply will post 3.71 earnings per share for the current fiscal year.

Insider Activity

In other SiteOne Landscape Supply news, CEO Doug Black bought 8,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the acquisition, the chief executive officer owned 8,000 shares of the company's stock, valued at approximately $816,240. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

Institutional Trading of SiteOne Landscape Supply

Several hedge funds and other institutional investors have recently made changes to their positions in SITE. Basecamp Wealth Advisors LLC grew its position in SiteOne Landscape Supply by 219.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company's stock worth $25,000 after purchasing an additional 127 shares during the period. Whittier Trust Co. lifted its holdings in shares of SiteOne Landscape Supply by 72.7% during the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $27,000 after buying an additional 88 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of SiteOne Landscape Supply by 2,178.6% during the 3rd quarter. Fortitude Family Office LLC now owns 319 shares of the industrial products company's stock valued at $29,000 after buying an additional 305 shares during the period. Bessemer Group Inc. boosted its stake in shares of SiteOne Landscape Supply by 182.6% in the 1st quarter. Bessemer Group Inc. now owns 373 shares of the industrial products company's stock worth $50,000 after buying an additional 241 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of SiteOne Landscape Supply by 114.3% in the 3rd quarter. Versant Capital Management Inc now owns 420 shares of the industrial products company's stock worth $38,000 after buying an additional 224 shares during the last quarter.

More SiteOne Landscape Supply News

Here are the key news stories impacting SiteOne Landscape Supply this week:

• Positive Sentiment: SiteOne reported third-quarter adjusted EBITDA growth of 8% and a 60-basis-point expansion in adjusted EBITDA margin, despite soft underlying demand and a delayed fall season caused by hot, dry weather. The emphasis on cost control and margin gains appears to be supporting the stock. SiteOne Landscape Supply Q3 Earnings Put Margin Gains Front And Center
• Positive Sentiment: Management increased its share-repurchase authorization by $500 million. The larger buyback could provide support for earnings per share and signal confidence in the company’s long-term outlook. SiteOne Announces $500 Million Share Repurchase Increase
• Positive Sentiment: Third-quarter earnings were $1.46 per share, up from $1.31 a year earlier. Revenue also grew 2.6% year over year, while reported profit increased, indicating continued earnings improvement despite challenging market conditions. SiteOne Landscape Supply Q3 Profit Rises
• Neutral Sentiment: Revenue of approximately $1.29 billion was slightly below the roughly $1.30 billion analyst consensus, while EPS met the broader consensus estimate. The results were therefore mixed: stronger margins and profit growth offset a modest top-line miss. SiteOne Q3 Earnings Miss Estimates Despite Revenue and Profit Growth
• Negative Sentiment: Zacks Research downgraded SiteOne Landscape Supply (SITE) from “Hold” to “Strong Sell,” adding pressure to sentiment and highlighting concerns about demand and the stock’s outlook. Zacks Research Rating

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc NYSE: SITE is a wholesale distributor of landscape and outdoor living products in the United States and Canada. The company serves landscape professionals, irrigation contractors, golf course and sports-turf managers, nursery and greenhouse operators, and other customers in the green industry.

Its product offerings include irrigation and water-management systems, landscape lighting, nursery and greenhouse supplies, fertilizers and other agronomic products, turf-care equipment, hardscape materials, outdoor living products, and pest-control supplies.

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