SiteOne Landscape Supply, Inc. (NYSE:SITE) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on SiteOne Landscape Supply, with six buys, five holds, and two sells among 13 brokerages. The average 12-month price target is $132.80.
• Recent analyst actions were mixed but generally cautious, with several firms cutting price targets; targets now range from $108 to $155, while Weiss Ratings downgraded the stock to “sell.”
• SiteOne reported quarterly EPS of $3.14, below the $3.36 consensus estimate, while revenue of $1.53 billion also narrowly missed expectations but increased 4.7% year over year. CEO Doug Black separately bought 5,000 shares at an average price of $96.13.

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) have received an average rating of "Hold" from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $132.80.

A number of equities research analysts have weighed in on SITE shares. Weiss Ratings lowered SiteOne Landscape Supply from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Truist Financial reduced their price target on SiteOne Landscape Supply from $200.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Barclays decreased their price target on SiteOne Landscape Supply from $129.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 30th. Robert W. Baird dropped their price objective on SiteOne Landscape Supply from $160.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, July 28th. Finally, UBS Group cut their price objective on SiteOne Landscape Supply from $140.00 to $110.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th.

SiteOne Landscape Supply Stock Up 0.0%

SITE stock opened at $90.48 on Monday. SiteOne Landscape Supply has a one year low of $86.20 and a one year high of $168.56. The stock has a market capitalization of $3.95 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. The company has a fifty day moving average of $98.02 and a 200-day moving average of $113.79.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.22). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The company's revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.86 earnings per share. As a group, analysts expect that SiteOne Landscape Supply will post 3.93 EPS for the current year.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black acquired 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average price of $96.13 per share, with a total value of $480,650.00. Following the completion of the acquisition, the chief executive officer owned 13,000 shares in the company, valued at approximately $1,249,690. This represents a 62.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SITE. Wasatch Advisors LP grew its holdings in shares of SiteOne Landscape Supply by 1.6% in the 1st quarter. Wasatch Advisors LP now owns 2,121,524 shares of the industrial products company's stock worth $282,396,000 after acquiring an additional 33,347 shares during the period. Bamco Inc. NY increased its stake in SiteOne Landscape Supply by 3.1% in the 4th quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company's stock valued at $252,653,000 after purchasing an additional 61,490 shares in the last quarter. BlackRock Inc. acquired a new position in SiteOne Landscape Supply during the second quarter worth $221,355,000. Capital World Investors raised its holdings in SiteOne Landscape Supply by 37.9% during the fourth quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company's stock worth $174,675,000 after purchasing an additional 385,666 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in SiteOne Landscape Supply by 2.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company's stock worth $147,313,000 after purchasing an additional 31,684 shares in the last quarter.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape, irrigation, and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, golf course professionals, green-industry businesses, municipalities, and other commercial customers through a network of local branches and distribution facilities.

Its product offerings include irrigation and water-management systems, nursery and landscape supplies, seed, fertilizer, turf and ornamental plant protection products, landscape lighting, hardscape materials, outdoor living products, and related maintenance equipment.

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