SiteOne Landscape Supply, Inc. (NYSE:SITE) Stock Has Average Price Target of $121.00

Key Points

• Analysts maintain a “Hold” consensus on SiteOne Landscape Supply, with six hold, five buy, and one sell rating among 12 firms. The average 12-month price target is $121, above the stock’s reported opening price of $94.11.
• Recent analyst actions were mixed but generally cautious, with several firms lowering price targets; targets now range from $100 at Stifel Nicolaus to $155 at Robert W. Baird.
• SiteOne’s latest quarterly results fell short of expectations, reporting $3.14 EPS versus a $3.36 consensus and revenue of $1.53 billion versus $1.54 billion expected. Revenue still increased 4.7% year over year, while CEO Doug Black bought 5,000 shares worth about $481,000.

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) have been given an average recommendation of "Hold" by the twelve ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $121.00.

SITE has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of SiteOne Landscape Supply from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, September 18th. Barclays dropped their price objective on shares of SiteOne Landscape Supply from $129.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Robert W. Baird cut their target price on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, July 28th. Stifel Nicolaus reiterated a "hold" rating and issued a $100.00 target price (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada reduced their target price on SiteOne Landscape Supply from $135.00 to $124.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 7th.

Insider Transactions at SiteOne Landscape Supply

In other news, CEO Doug Black purchased 5,000 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was purchased at an average price of $96.13 per share, with a total value of $480,650.00. Following the completion of the purchase, the chief executive officer directly owned 13,000 shares in the company, valued at approximately $1,249,690. This trade represents a 62.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several institutional investors have recently modified their holdings of SITE. Basecamp Wealth Advisors LLC raised its holdings in shares of SiteOne Landscape Supply by 219.0% during the 1st 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. boosted its stake in SiteOne Landscape Supply by 72.7% in the first quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $27,000 after buying an additional 88 shares in the last quarter. Fortitude Family Office LLC boosted its stake in SiteOne Landscape Supply by 2,178.6% in the third quarter. Fortitude Family Office LLC now owns 319 shares of the industrial products company's stock worth $29,000 after buying an additional 305 shares in the last quarter. Versant Capital Management Inc boosted its stake in SiteOne Landscape Supply by 114.3% in the third 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 in the last quarter. Finally, Bessemer Group Inc. grew its position in SiteOne Landscape Supply by 182.6% during the first quarter. Bessemer Group Inc. now owns 373 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 241 shares during the last quarter.

SiteOne Landscape Supply Stock Up 5.3%

SITE stock opened at $94.11 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36. The company's 50 day moving average is $93.87 and its 200 day moving average is $108.02. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.36 and a beta of 1.38. SiteOne Landscape Supply has a 1-year low of $82.00 and a 1-year high of $168.56.

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

About SiteOne Landscape Supply

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

Its product portfolio includes irrigation and outdoor lighting equipment, nursery products, turf and landscape maintenance supplies, fertilizers and other agronomic products, hardscape materials, outdoor living products, and golf course maintenance supplies.

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