SiteOne Landscape Supply's (SITE) Hold (C-) Rating Reaffirmed at Weiss Ratings

Key Points

• SiteOne Landscape Supply's stock has been reaffirmed with a "hold (C-)" rating by Weiss Ratings, indicating a neutral assessment of the company's performance.
• Several analysts have recently adjusted their ratings and price targets, with Royal Bank of Canada raising its target from $130 to $143, and Loop Capital upgrading from "hold" to "buy" while increasing its target from $150 to $160.
• The company reported earnings of $2.86 per share for the last quarter, falling short of the estimated $2.89, while revenue increased by 3.4% year-over-year to $1.46 billion but also missed expectations.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report)'s stock had its "hold (c-)" rating restated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently weighed in on SITE. Royal Bank Of Canada raised their price target on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Zacks Research downgraded shares of SiteOne Landscape Supply from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Loop Capital raised shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and raised their price target for the stock from $150.00 to $160.00 in a research note on Friday, September 19th. Finally, Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $150.50.

SiteOne Landscape Supply Price Performance

SITE traded down $1.96 during midday trading on Wednesday, hitting $121.21. 597,858 shares of the company traded hands, compared to its average volume of 519,834. 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 market capitalization of $5.41 billion, a price-to-earnings ratio of 44.24, a PEG ratio of 2.06 and a beta of 1.59. SiteOne Landscape Supply has a 52-week low of $101.25 and a 52-week high of $160.74. The business has a 50 day simple moving average of $137.54 and a two-hundred day simple moving average of $126.56.

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 (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.03). The company had revenue of $1.46 billion for 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.63 earnings per share. On average, equities analysts forecast that SiteOne Landscape Supply will post 3.61 earnings per share for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, CEO Doug Black sold 7,384 shares of SiteOne Landscape Supply 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 transaction, the chief executive officer owned 600,446 shares in the company, valued at approximately $79,312,912.14. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. HM Payson & Co. acquired a new position in shares of SiteOne Landscape Supply in the first quarter valued at approximately $25,000. Allworth Financial LP lifted its stake in SiteOne Landscape Supply by 61.2% in the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company's stock worth $29,000 after acquiring an additional 90 shares during the last quarter. Brooklyn Investment Group purchased a new position in SiteOne Landscape Supply in the first quarter worth approximately $32,000. Golden State Wealth Management LLC lifted its stake in SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after acquiring an additional 139 shares during the last quarter. Finally, Eastern Bank purchased a new position in SiteOne Landscape Supply in the first quarter worth approximately $38,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.