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

Key Points

• SiteOne Landscape Supply, Inc. has received a consensus rating of "Hold" from twelve analysts, with one sell rating, six hold ratings, and five buy ratings, and an average 12-month price target of $150.50.
• In recent insider activity, CEO Doug Black sold 7,384 shares at an average price of $132.09, decreasing his position by 1.21% while still retaining over 600,000 shares.
• The company's stock reported a 3.4% year-over-year revenue growth despite missing earnings estimates, with a reported $1.46 billion in revenue for the quarter.

SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) has been given a consensus rating of "Hold" by the twelve analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $150.50.

A number of equities research analysts have recently issued reports on SITE shares. Zacks Research lowered shares of SiteOne Landscape Supply from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Royal Bank Of Canada upped their target price on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Loop Capital upgraded shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and increased their price objective for the company from $150.00 to $160.00 in a report on Friday, September 19th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of SiteOne Landscape Supply in a report on Saturday, September 27th.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black sold 7,384 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $132.09, for a total value of $975,352.56. Following the completion of the sale, the chief executive officer owned 600,446 shares in the company, valued at approximately $79,312,912.14. This represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several hedge funds have recently made changes to their positions in SITE. GAMMA Investing LLC lifted its position in SiteOne Landscape Supply by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 583 shares of the industrial products company's stock worth $75,000 after buying an additional 113 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of SiteOne Landscape Supply by 400.5% during the 2nd quarter. Squarepoint Ops LLC now owns 34,500 shares of the industrial products company's stock valued at $4,172,000 after purchasing an additional 27,607 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in SiteOne Landscape Supply by 2.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 13,814 shares of the industrial products company's stock valued at $1,674,000 after buying an additional 297 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in SiteOne Landscape Supply by 145.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 456 shares of the industrial products company's stock valued at $55,000 after buying an additional 270 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in SiteOne Landscape Supply by 90.8% in the 2nd quarter. Corient Private Wealth LLC now owns 18,922 shares of the industrial products company's stock valued at $2,289,000 after buying an additional 9,006 shares during the last quarter.

SiteOne Landscape Supply Stock Down 0.9%

Shares of SiteOne Landscape Supply stock opened at $127.45 on Monday. 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 company has a fifty day moving average price of $138.21 and a 200 day moving average price of $126.60. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 46.51, a price-to-earnings-growth ratio of 2.13 and a beta of 1.59. SiteOne Landscape Supply has a twelve month low of $101.25 and a twelve month high of $160.74.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share 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 analysts' expectations of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.63 earnings per share. Equities research analysts forecast that SiteOne Landscape Supply will post 3.61 earnings per share for the current fiscal year.

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.

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