SiteOne Landscape Supply (NYSE:SITE) Upgraded by Stifel Nicolaus to Buy

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) was upgraded by analysts at Stifel Nicolaus from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a $165.00 price target on the industrial products company's stock, down from their previous price target of $167.00. Stifel Nicolaus' price objective indicates a potential upside of 9.74% from the stock's current price.

SITE has been the subject of several other reports. Robert W. Baird raised their price objective on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Thursday, February 15th. Royal Bank of Canada increased their price objective on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a "sector perform" rating in a research note on Thursday, February 15th. Truist Financial raised their price objective on SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a "buy" rating in a report on Thursday, February 15th. Barclays raised their target price on SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an "underweight" rating in a research note on Thursday, February 15th. Finally, Loop Capital downgraded SiteOne Landscape Supply from a "buy" rating to a "hold" rating in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of "Hold" and a consensus price target of $167.50.

SiteOne Landscape Supply Price Performance

NYSE:SITE traded up $6.85 during trading hours on Thursday, reaching $150.36. The stock had a trading volume of 706,259 shares, compared to its average volume of 317,650. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.43. SiteOne Landscape Supply has a 52 week low of $116.81 and a 52 week high of $188.01. The company has a 50 day moving average price of $169.98 and a two-hundred day moving average price of $156.77. The stock has a market capitalization of $6.79 billion, a PE ratio of 39.83 and a beta of 1.53.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The business had revenue of $904.80 million for the quarter, compared to analysts' expectations of $864.01 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. SiteOne Landscape Supply's revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that SiteOne Landscape Supply will post 4 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Doug Black sold 10,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the completion of the transaction, the chief executive officer now owns 574,657 shares of the company's stock, valued at $93,151,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares of the company's stock, valued at approximately $93,151,899.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John T. Guthrie sold 3,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the transaction, the chief financial officer now directly owns 15,467 shares in the company, valued at approximately $2,784,060. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,000 shares of company stock worth $3,924,500. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of SiteOne Landscape Supply

Several large investors have recently added to or reduced their stakes in the business. Townsquare Capital LLC grew its holdings in shares of SiteOne Landscape Supply by 1.1% in the 3rd quarter. Townsquare Capital LLC now owns 6,838 shares of the industrial products company's stock worth $1,118,000 after acquiring an additional 74 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in shares of SiteOne Landscape Supply by 0.9% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 9,456 shares of the industrial products company's stock worth $1,546,000 after acquiring an additional 80 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of SiteOne Landscape Supply by 5.4% in the third quarter. Kestra Advisory Services LLC now owns 1,717 shares of the industrial products company's stock worth $281,000 after buying an additional 88 shares during the period. Legacy Capital Group California Inc. boosted its position in shares of SiteOne Landscape Supply by 3.2% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,886 shares of the industrial products company's stock worth $469,000 after buying an additional 90 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of SiteOne Landscape Supply by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 19,518 shares of the industrial products company's stock worth $3,190,000 after buying an additional 100 shares during the period.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.