SiteOne Landscape Supply (NYSE:SITE) Price Target Lowered to $155.00 at Robert W. Baird

Key Points

• Robert W. Baird lowered SiteOne Landscape Supply’s price target to $155 from $160 while maintaining an “outperform” rating, implying roughly 53% upside from the prior close.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $156.18, with eight Buy, four Hold, and two Sell ratings.
• SiteOne’s latest quarterly results missed expectations, reporting an adjusted loss of $0.60 per share versus the $0.33 consensus estimate and revenue of $940.1 million versus $982.27 million expected.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) had its target price lowered by research analysts at Robert W. Baird from $160.00 to $155.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the industrial products company's stock. Robert W. Baird's target price points to a potential upside of 53.17% from the stock's previous close.

SITE has been the topic of several other research reports. Barclays dropped their price objective on shares of SiteOne Landscape Supply from $148.00 to $129.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 14th. UBS Group restated a "neutral" rating on shares of SiteOne Landscape Supply in a report on Thursday, June 25th. Zacks Research downgraded shares of SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a research note on Monday, June 22nd. Stifel Nicolaus cut their price objective on SiteOne Landscape Supply from $157.00 to $153.00 and set a "buy" rating for the company in a report on Monday, June 22nd. Finally, Bank of America lowered their target price on SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $156.18.

SiteOne Landscape Supply Stock Up 1.3%

Shares of SiteOne Landscape Supply stock opened at $101.19 on Tuesday. SiteOne Landscape Supply has a 1 year low of $98.17 and a 1 year high of $168.56. The company has a market cap of $4.48 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.35 and a beta of 1.34. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $107.94 and a 200 day moving average price of $127.72.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.27). The business had revenue of $940.10 million for the quarter, compared to analysts' expectations of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The company's revenue was up .1% compared to the same quarter last year. During the same period last year, the firm earned ($0.61) EPS. As a group, analysts expect that SiteOne Landscape Supply will post 4.02 EPS for the current fiscal year.

Insider Activity

In other news, Director Fred M. Diaz sold 562 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $112.52, for a total transaction of $63,236.24. Following the completion of the sale, the director owned 11,267 shares in the company, valued at approximately $1,267,762.84. This represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of institutional investors have recently modified their holdings of SITE. Basecamp Wealth Advisors LLC boosted its holdings in shares of SiteOne Landscape Supply by 219.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company's stock worth $25,000 after buying an additional 127 shares during the period. Whittier Trust Co. raised its holdings in SiteOne Landscape Supply by 72.7% in the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $27,000 after acquiring an additional 88 shares during the period. Rothschild Investment LLC lifted its position in SiteOne Landscape Supply by 1,521.4% during the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company's stock worth $28,000 after acquiring an additional 213 shares during the last quarter. IFP Advisors Inc lifted its position in SiteOne Landscape Supply by 106.8% during the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company's stock worth $38,000 after acquiring an additional 158 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in SiteOne Landscape Supply during the fourth quarter valued at about $42,000.

About SiteOne Landscape Supply

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.

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