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, reflecting a cautious stance from analysts amid ongoing market changes.
• Multiple research firms have adjusted their target prices for SITE, with Goldman Sachs lowering it to $138, highlighting a broader range of valuations among analysts.
• The company's recent quarterly earnings showed a slight miss on EPS estimates, reporting $2.86 compared to the estimated $2.89, despite year-over-year revenue growth of 3.4%.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report)'s stock had its "hold (c-)" rating reissued by Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

SITE has been the subject of a number of other research reports. The Goldman Sachs Group dropped their target price on shares of SiteOne Landscape Supply from $158.00 to $138.00 and set a "neutral" rating for the company in a report on Monday, October 13th. Zacks Research cut shares of SiteOne Landscape Supply from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Royal Bank Of Canada increased their target price on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. William Blair reissued a "market perform" rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 15th. Finally, Loop Capital raised shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and increased their target price for the stock from $150.00 to $160.00 in a report on Friday, September 19th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $148.50.

SiteOne Landscape Supply Trading Up 0.6%

SITE opened at $124.99 on Friday. SiteOne Landscape Supply has a twelve month low of $101.25 and a twelve month high of $160.74. The company has a 50-day simple moving average of $133.68 and a 200 day simple moving average of $126.71. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 45.62, a P/E/G ratio of 2.29 and a beta of 1.59.

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 for the quarter, missing the consensus estimate 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 firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned $2.63 EPS. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts predict that SiteOne Landscape Supply will post 3.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SITE. Price T Rowe Associates Inc. MD raised its holdings in SiteOne Landscape Supply by 12.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company's stock valued at $738,309,000 after buying an additional 660,081 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in SiteOne Landscape Supply by 31.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,092,742 shares of the industrial products company's stock valued at $254,143,000 after buying an additional 494,737 shares during the last quarter. AQR Capital Management LLC raised its holdings in SiteOne Landscape Supply by 743.5% in the 2nd quarter. AQR Capital Management LLC now owns 441,192 shares of the industrial products company's stock valued at $52,440,000 after buying an additional 388,890 shares during the last quarter. Bamco Inc. NY raised its holdings in SiteOne Landscape Supply by 14.2% in the 2nd quarter. Bamco Inc. NY now owns 1,941,817 shares of the industrial products company's stock valued at $234,843,000 after buying an additional 242,106 shares during the last quarter. Finally, Jackson Square Partners LLC raised its holdings in SiteOne Landscape Supply by 2,732.2% in the 1st quarter. Jackson Square Partners LLC now owns 176,755 shares of the industrial products company's stock valued at $21,465,000 after buying an additional 170,514 shares during the last quarter.

SiteOne Landscape Supply Company Profile

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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