Stifel Nicolaus Has Lowered Expectations for SiteOne Landscape Supply (NYSE:SITE) Stock Price

Key Points

• Stifel Nicolaus lowered its price target on SiteOne Landscape Supply from $157 to $153 while maintaining a buy rating, implying about 39% upside from the current share price.
• Other analysts remain mixed: the stock’s consensus rating is Hold with a consensus target of $159.70, though several firms still have Buy ratings while others are neutral or bearish.
• SiteOne recently reported weaker-than-expected quarterly results, with EPS of -$0.60 missing estimates and revenue of $940.1 million coming in below expectations, even as the company noted modest year-over-year revenue growth.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) had its target price reduced by research analysts at Stifel Nicolaus from $157.00 to $153.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Stifel Nicolaus' price objective indicates a potential upside of 39.11% from the company's current price.

Several other research firms have also issued reports on SITE. UBS Group began coverage on shares of SiteOne Landscape Supply in a research note on Friday, April 10th. They issued a "neutral" rating and a $140.00 price objective for the company. Barclays cut their target price on SiteOne Landscape Supply from $150.00 to $148.00 and set an "equal weight" rating on the stock in a report on Thursday, April 30th. Bank of America reduced their price target on 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. Robert W. Baird set a $160.00 price target on SiteOne Landscape Supply in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded SiteOne Landscape Supply from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $159.70.

SiteOne Landscape Supply Price Performance

Shares of SITE opened at $109.99 on Monday. The firm has a market cap of $4.87 billion, a PE ratio of 32.64, a PEG ratio of 1.43 and a beta of 1.35. The firm's 50 day moving average price is $120.51 and its 200 day moving average price is $131.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 2.33. SiteOne Landscape Supply has a twelve month low of $100.52 and a twelve month high of $168.56.

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

Insider Buying and Selling

In related news, Director Fred M. Diaz sold 563 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total value of $64,818.19. Following the transaction, the director owned 11,829 shares in the company, valued at $1,361,872.77. This trade represents a 4.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On SiteOne Landscape Supply

Hedge funds and other institutional investors have recently made changes to their positions in the business. Man Group plc raised its position in shares of SiteOne Landscape Supply by 0.4% in the second quarter. Man Group plc now owns 22,338 shares of the industrial products company's stock valued at $2,702,000 after purchasing an additional 86 shares during the period. Whittier Trust Co. boosted its holdings in shares of SiteOne Landscape Supply by 72.7% during the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $27,000 after buying an additional 88 shares during the period. Parallel Advisors LLC grew its stake in SiteOne Landscape Supply by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company's stock valued at $87,000 after buying an additional 88 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in SiteOne Landscape Supply by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company's stock valued at $2,109,000 after buying an additional 89 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock valued at $48,000 after buying an additional 107 shares during the last quarter.

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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