SiteOne Landscape Supply, Inc. (NYSE:SITE) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• SiteOne Landscape Supply has received a consensus recommendation of "Hold" from ten analysts, with ratings split between one sell, five hold, and four buy ratings.
• The company's average twelve-month price objective is set at $147.00, with recent adjustments from various brokerage firms reflecting mixed outlooks.
• SiteOne reported $2.86 earnings per share, missing estimates by $0.03, while year-over-year revenue increased by 3.4% to $1.46 billion.

SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) has earned a consensus recommendation of "Hold" from the ten analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $147.00.

SITE has been the subject of several recent analyst reports. Truist Financial cut their price objective on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Stifel Nicolaus dropped their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Finally, Royal Bank Of Canada raised their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st.

SiteOne Landscape Supply Trading Down 0.8%

Shares of SiteOne Landscape Supply stock opened at $140.21 on Friday. SiteOne Landscape Supply has a 52-week low of $101.25 and a 52-week high of $160.74. The stock's 50-day simple moving average is $128.20 and its 200 day simple moving average is $124.92. The stock has a market capitalization of $6.25 billion, a P/E ratio of 51.17, a P/E/G ratio of 2.33 and a beta of 1.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.89 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The company's revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.63 earnings per share. As a group, research analysts anticipate that SiteOne Landscape Supply will post 3.61 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Doug Black sold 29,760 shares of the firm's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the completion of the transaction, the chief executive officer directly owned 596,684 shares in the company, valued at $77,139,307.52. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Ketter sold 39,640 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total value of $5,005,739.20. Following the transaction, the executive vice president owned 13,663 shares of the company's stock, valued at $1,725,363.64. The trade was a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,784 shares of company stock valued at $9,828,465. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several large investors have recently bought and sold shares of SITE. HM Payson & Co. purchased a new position in SiteOne Landscape Supply in the first quarter worth about $25,000. Allworth Financial LP raised its stake in SiteOne Landscape Supply by 61.2% during the 2nd quarter. Allworth Financial LP now owns 237 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 90 shares during the period. Brooklyn Investment Group bought a new stake in SiteOne Landscape Supply during the 1st quarter valued at approximately $32,000. Golden State Wealth Management LLC raised its stake in SiteOne Landscape Supply by 106.1% during the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 139 shares during the period. Finally, Eastern Bank bought a new stake in SiteOne Landscape Supply during the 1st quarter valued at approximately $38,000.

About SiteOne Landscape Supply

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.

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