SiteOne Landscape Supply, Inc. (NYSE:SITE) Receives $147.00 Consensus Target Price from Analysts

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.

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) have received an average recommendation of "Hold" from the ten ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $147.00.

A number of analysts have issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of 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. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Stifel Nicolaus cut their price target on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Finally, Truist Financial cut their price target on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st.

SiteOne Landscape Supply Price Performance

SITE traded down $0.03 on Friday, hitting $137.80. 442,160 shares of the company's stock were exchanged, compared to its average volume of 668,338. SiteOne Landscape Supply has a fifty-two week low of $101.25 and a fifty-two week high of $160.74. The company has a current ratio of 2.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $129.42 and a 200-day moving average price of $125.00. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 50.29, a P/E/G ratio of 2.30 and a beta of 1.54.

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

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 39,640 shares of the stock in a transaction that occurred 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 directly owned 13,663 shares in the company, valued at $1,725,363.64. This represents a 74.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Doug Black sold 7,384 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $132.09, for a total transaction of $975,352.56. Following the completion of the transaction, the chief executive officer owned 600,446 shares in the company, valued at $79,312,912.14. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,784 shares of company stock worth $9,828,465 over the last 90 days. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of SiteOne Landscape Supply by 12.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company's stock worth $738,309,000 after purchasing an additional 660,081 shares during the period. T. Rowe Price Investment Management Inc. raised its position in SiteOne Landscape Supply by 31.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,092,742 shares of the industrial products company's stock worth $254,143,000 after acquiring an additional 494,737 shares in the last quarter. Bamco Inc. NY raised its position in SiteOne Landscape Supply by 14.2% in the second quarter. Bamco Inc. NY now owns 1,941,817 shares of the industrial products company's stock worth $234,843,000 after acquiring an additional 242,106 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in SiteOne Landscape Supply by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock worth $143,733,000 after acquiring an additional 16,120 shares in the last quarter. Finally, State Street Corp raised its position in SiteOne Landscape Supply by 1.7% in the second quarter. State Street Corp now owns 777,354 shares of the industrial products company's stock worth $94,013,000 after acquiring an additional 12,766 shares in the last quarter.

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.