SiteOne Landscape Supply (NYSE:SITE) Upgraded to Buy at Stifel Nicolaus

Key Points

• Stifel Nicolaus upgraded SiteOne (NYSE:SITE) to a "Buy" with a $157 price target — implying roughly 24.9% upside — and the stock carries a consensus "Moderate Buy" rating with an average analyst target of $160.10 (six Buy, six Hold).
• SiteOne missed its latest quarter, reporting EPS of ($0.60) vs. ($0.33) expected and revenue of $940.1M vs. $982.3M expected; the shares trade near $125.74 with a 12‑month range of $112.23–$168.56 and a market cap of about $5.6B.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) was upgraded by research analysts at Stifel Nicolaus from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a $157.00 price objective on the industrial products company's stock. Stifel Nicolaus' target price points to a potential upside of 24.86% from the company's previous close.

Several other equities research analysts have also commented on SITE. Bank of America cut their price target on shares of 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. UBS Group began coverage on shares of SiteOne Landscape Supply in a research note on Friday, April 10th. They set a "neutral" rating and a $140.00 price target on the stock. Barclays cut their price target on shares of SiteOne Landscape Supply from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research note on Thursday. Truist Financial lifted their price target on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a research note on Thursday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of "Moderate Buy" and an average price target of $160.10.

SiteOne Landscape Supply Price Performance

SiteOne Landscape Supply stock opened at $125.74 on Monday. The stock has a market cap of $5.57 billion, a P/E ratio of 37.31, a price-to-earnings-growth ratio of 1.60 and a beta of 1.42. The company has a fifty day simple moving average of $136.21 and a 200-day simple moving average of $135.07. SiteOne Landscape Supply has a 12-month low of $112.23 and a 12-month high of $168.56. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.27). The firm had revenue of $940.10 million for the quarter, compared to analysts' expectations of $982.27 million. SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.SiteOne Landscape Supply's revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm posted ($0.61) earnings per share. Equities analysts expect that SiteOne Landscape Supply will post 4.18 EPS for the current fiscal year.

Insider Activity

In other news, EVP Eric J. Elema sold 1,765 shares of the business's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $158.01, for a total transaction of $278,887.65. Following the transaction, the executive vice president directly owned 2,911 shares in the company, valued at $459,967.11. The trade was a 37.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Associated Banc Corp acquired a new position in shares of SiteOne Landscape Supply during the first quarter worth about $203,000. Citizens Financial Group Inc. RI acquired a new position in shares of SiteOne Landscape Supply during the first quarter worth about $270,000. Fifth Third Bancorp increased its stake in shares of SiteOne Landscape Supply by 28,557.5% during the first quarter. Fifth Third Bancorp now owns 143,574 shares of the industrial products company's stock worth $19,111,000 after acquiring an additional 143,073 shares during the period. Hsbc Holdings PLC increased its stake in shares of SiteOne Landscape Supply by 10.2% during the first quarter. Hsbc Holdings PLC now owns 2,080 shares of the industrial products company's stock worth $277,000 after acquiring an additional 192 shares during the period. Finally, Whittier Trust Co. increased its stake in shares of SiteOne Landscape Supply by 72.7% during the first 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.

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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