Stifel Nicolaus Forecasts Strong Price Appreciation for SiteOne Landscape Supply (NYSE:SITE) Stock

Key Points

• Stifel Nicolaus raised its price target on SiteOne to $157 (from $155) and kept a "hold" rating, implying roughly an 8.2% upside from the current price.
• Analyst sentiment is mixed but leans neutral — SiteOne has a consensus "Hold" rating with an average target of $163.67 (four Buys vs. seven Holds and price targets ranging ~ $140–$190).
• Recent results showed a quarterly EPS of ($0.20) that beat estimates and revenue of $1.05B (up 3.2% YoY); the stock trades near $145 with a P/E of ~43.2 and a market cap of about $6.4B.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) had its price objective upped by analysts at Stifel Nicolaus from $155.00 to $157.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price target would suggest a potential upside of 8.20% from the company's current price.

Several other brokerages also recently commented on SITE. Bank of America reduced their price objective on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating for the company in a research report on Monday, April 20th. UBS Group began coverage on shares of SiteOne Landscape Supply in a research report on Friday, April 10th. They issued a "neutral" rating and a $140.00 price target on the stock. Zacks Research raised SiteOne Landscape Supply from a "strong sell" rating to a "hold" rating in a report on Friday, February 13th. Robert W. Baird set a $190.00 price objective on SiteOne Landscape Supply in a report on Thursday, February 12th. Finally, Royal Bank Of Canada lifted their price objective on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of "Hold" and an average target price of $163.67.

SiteOne Landscape Supply Stock Up 0.0%

Shares of SITE opened at $145.10 on Monday. The stock's 50-day moving average price is $137.82 and its two-hundred day moving average price is $134.69. SiteOne Landscape Supply has a 12 month low of $108.11 and a 12 month high of $168.56. The company has a current ratio of 2.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $6.43 billion, a PE ratio of 43.18, a PEG ratio of 1.80 and a beta of 1.57.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.09. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted ($0.48) EPS. The business's quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts anticipate that SiteOne Landscape Supply will post 4.31 EPS for the current year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction dated Friday, February 13th. The shares were 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 owned 2,911 shares in the company, valued at approximately $459,967.11. This trade represents a 37.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of SiteOne Landscape Supply by 3.0% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 6,091 shares of the industrial products company's stock worth $811,000 after buying an additional 176 shares during the last quarter. Root Financial Partners LLC raised its stake in SiteOne Landscape Supply by 480.7% in the 1st quarter. Root Financial Partners LLC now owns 691 shares of the industrial products company's stock valued at $92,000 after acquiring an additional 572 shares during the period. Conestoga Capital Advisors LLC raised its stake in SiteOne Landscape Supply by 2.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company's stock valued at $147,313,000 after acquiring an additional 31,684 shares during the period. Crown Oak Advisors LLC raised its stake in SiteOne Landscape Supply by 0.7% in the 1st quarter. Crown Oak Advisors LLC now owns 55,128 shares of the industrial products company's stock valued at $7,338,000 after acquiring an additional 370 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in SiteOne Landscape Supply by 6.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,871 shares of the industrial products company's stock valued at $915,000 after acquiring an additional 400 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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