SiteOne Landscape Supply (NYSE:SITE) Receives "Neutral" Rating from UBS Group

Key Points

• UBS restated a "Neutral" rating on SiteOne and cut its price target to $140 (from $182), implying only about a 5.35% upside from the current share price.
• Analyst views are mixed: four firms rate SITE a Buy and seven rate it Hold, giving a consensus Hold rating with an average target of about $160, though some brokers (e.g., Truist, RBC) carry significantly higher targets.
• In the latest quarter SiteOne reported adjusted EPS of -$0.20 (beating the -$0.29 estimate) and $1.05B in revenue (up 3.2% year-over-year); the company has a market cap near $5.9B and a P/E around 39.6.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report)'s stock had its "neutral" rating restated by research analysts at UBS Group in a research note issued on Friday,Benzinga reports. They currently have a $140.00 price objective on the industrial products company's stock, down from their prior price objective of $182.00. UBS Group's target price would suggest a potential upside of 5.35% from the stock's current price.

Several other research analysts have also commented on SITE. Zacks Research upgraded shares of SiteOne Landscape Supply from a "strong sell" rating to a "hold" rating in a research note on Friday, February 13th. Bank of America initiated coverage on shares of SiteOne Landscape Supply in a research report on Thursday, December 18th. They set a "buy" rating and a $147.00 target price on the stock. Royal Bank Of Canada boosted their price target on SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Truist Financial increased their price objective on SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, Robert W. Baird set a $190.00 target price on SiteOne Landscape Supply in a report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $160.00.

SiteOne Landscape Supply Trading Down 1.0%

NYSE SITE opened at $132.89 on Friday. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 1.20. SiteOne Landscape Supply has a 12 month low of $106.74 and a 12 month high of $168.56. The company's fifty day moving average price is $139.92 and its two-hundred day moving average price is $133.60.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.09. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.05 billion. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The firm's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.48) EPS. As a group, research analysts predict that SiteOne Landscape Supply will post 3.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $158.01, for a total value of $278,887.65. Following the completion of the sale, the executive vice president directly owned 2,911 shares of the company's stock, valued at approximately $459,967.11. This represents a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SITE. 59 North Capital Management LP acquired a new stake in SiteOne Landscape Supply during the third quarter worth about $214,417,000. Cartenna Capital LP bought a new position in shares of SiteOne Landscape Supply during the third quarter valued at $63,756,000. Amundi bought a new stake in shares of SiteOne Landscape Supply in the 3rd quarter worth about $59,763,000. AQR Capital Management LLC lifted its holdings in SiteOne Landscape Supply by 171.0% during the 4th quarter. AQR Capital Management LLC now owns 691,558 shares of the industrial products company's stock valued at $86,140,000 after purchasing an additional 436,376 shares during the last quarter. Finally, Southpoint Capital Advisors LP bought a new position in SiteOne Landscape Supply during the 4th quarter valued at about $49,824,000.

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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