SiteOne Landscape Supply (NYSE:SITE) Price Target Cut to $138.00 by Analysts at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group lowered its price target for SiteOne Landscape Supply from $158.00 to $138.00, maintaining a "neutral" rating on the stock.
• SiteOne Landscape Supply reported $1.46 billion in revenue for the latest quarter, a 3.4% increase from the previous year, but missed analysts' estimates.
• Despite fluctuations in ratings, the consensus among analysts remains a "Hold" with an average target price of $148.50.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) had its target price lowered by investment analysts at The Goldman Sachs Group from $158.00 to $138.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the industrial products company's stock. The Goldman Sachs Group's price target would indicate a potential upside of 15.59% from the stock's previous close.

Several other analysts have also recently weighed in on SITE. Royal Bank Of Canada lifted their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 8th. Loop Capital raised shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and boosted their price objective for the company from $150.00 to $160.00 in a report on Friday, September 19th. Finally, Zacks Research downgraded shares of SiteOne Landscape Supply from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of "Hold" and an average target price of $148.50.

SiteOne Landscape Supply Stock Performance

SITE stock traded up $2.40 during midday trading on Monday, reaching $119.39. 342,300 shares of the company were exchanged, compared to its average volume of 518,674. SiteOne Landscape Supply has a one year low of $101.25 and a one year high of $160.74. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 43.57, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59. The business has a 50-day moving average price of $136.78 and a two-hundred day moving average price of $126.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results 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). SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $2.63 EPS. The business's quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts forecast that SiteOne Landscape Supply will post 3.61 EPS for the current year.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, CEO Doug Black sold 7,384 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the completion of the transaction, the chief executive officer directly owned 600,446 shares in the company, valued at approximately $79,312,912.14. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of SiteOne Landscape Supply by 24.3% in the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock worth $59,000 after acquiring an additional 95 shares during the period. Fifth Third Bancorp lifted its stake in shares of SiteOne Landscape Supply by 4.9% in the first quarter. Fifth Third Bancorp now owns 3,595 shares of the industrial products company's stock worth $437,000 after acquiring an additional 167 shares during the period. Azzad Asset Management Inc. ADV lifted its stake in shares of SiteOne Landscape Supply by 6.4% in the first quarter. Azzad Asset Management Inc. ADV now owns 2,751 shares of the industrial products company's stock worth $334,000 after acquiring an additional 166 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of 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 during the period. Finally, Birch Hill Investment Advisors LLC lifted its stake in shares of SiteOne Landscape Supply by 124.3% in the first quarter. Birch Hill Investment Advisors LLC now owns 5,539 shares of the industrial products company's stock worth $673,000 after acquiring an additional 3,070 shares during the period.

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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