SiteOne Landscape Supply, Inc. (NYSE:SITE) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on SiteOne Landscape Supply, with seven buys, five holds and two sells. The average 12-month price target is $135.27, well above the reported opening price of $96.24.
• Recent analyst actions were mixed, with several firms cutting price targets; targets now range from $120 at Truist to $160 at Deutsche Bank, while Zacks Research downgraded the stock to “strong sell.”
• SiteOne’s latest quarterly earnings missed expectations, with EPS of $3.14 versus $3.36 estimated and revenue of $1.53 billion versus $1.54 billion expected, although revenue increased 4.7% year over year. CEO Doug Black also purchased 8,000 shares worth approximately $816,240.

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) have received a consensus rating of "Hold" from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $135.2727.

Several analysts recently commented on the company. Royal Bank Of Canada dropped their target price on SiteOne Landscape Supply from $171.00 to $135.00 and set an "outperform" rating on the stock in a report on Thursday, July 30th. Robert W. Baird dropped their price objective on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 28th. Zacks Research lowered shares of SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a report on Monday, June 22nd. Truist Financial decreased their target price on shares of SiteOne Landscape Supply from $200.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a report on Thursday, April 30th.

SiteOne Landscape Supply Trading Up 1.2%

NYSE SITE opened at $96.24 on Thursday. The company has a market capitalization of $4.20 billion, a PE ratio of 26.37, a P/E/G ratio of 1.38 and a beta of 1.35. The company has a fifty day moving average of $103.30 and a 200 day moving average of $120.42. SiteOne Landscape Supply has a 1 year low of $90.07 and a 1 year 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.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.22). The company 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%.SiteOne Landscape Supply's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.86 earnings per share. Research analysts forecast that SiteOne Landscape Supply will post 3.93 earnings per share for the current year.

Insider Activity

In other news, CEO Doug Black bought 8,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average cost of $102.03 per share, with a total value of $816,240.00. Following the purchase, the chief executive officer directly owned 8,000 shares in the company, valued at $816,240. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Hedge funds have recently bought and sold shares of the business. Basecamp Wealth Advisors LLC increased its position in shares of SiteOne Landscape Supply by 219.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company's stock valued at $25,000 after buying an additional 127 shares in the last quarter. Whittier Trust Co. lifted its position 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 in the last quarter. Rothschild Investment LLC lifted its position in shares of SiteOne Landscape Supply by 1,521.4% during the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company's stock valued at $28,000 after buying an additional 213 shares in the last quarter. IFP Advisors Inc grew its stake in SiteOne Landscape Supply by 106.8% in the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 158 shares during the period. Finally, Empowered Funds LLC acquired a new stake in SiteOne Landscape Supply in the 4th quarter valued at $42,000.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source