Wall Street Zen Upgrades SiteOne Landscape Supply (NYSE:SITE) to "Hold"

Key Points

• Wall Street Zen has upgraded SiteOne Landscape Supply from a "sell" to a "hold" rating, indicating a change in outlook for the company's stock.
• The stock has received mixed ratings from analysts, with an average rating of "Hold" and a consensus target price of $145.70.
• SiteOne Landscape Supply recently reported a quarterly loss of ($0.61) earnings per share, missing consensus estimates, despite revenue increasing by 3.8% year-over-year.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other analysts also recently weighed in on the company. Loop Capital reduced their target price on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating for the company in a report on Friday, April 4th. Stifel Nicolaus dropped their price target on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft initiated coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They issued a "hold" rating and a $135.00 price target on the stock. Barclays dropped their price target on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Truist Financial dropped their price target on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, SiteOne Landscape Supply presently has an average rating of "Hold" and an average target price of $145.70.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock traded up $1.33 on Friday, hitting $132.58. The stock had a trading volume of 659,961 shares, compared to its average volume of 539,034. SiteOne Landscape Supply has a 52-week low of $101.25 and a 52-week high of $160.74. The company has a current ratio of 2.36, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 52.89, a P/E/G ratio of 2.18 and a beta of 1.55. The company's 50 day moving average price is $122.73 and its 200 day moving average price is $125.36.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.53% and a return on equity of 7.31%. The firm had revenue of $939.40 million during the quarter, compared to analysts' expectations of $933.90 million. During the same period in the previous year, the firm posted ($0.43) earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts anticipate that SiteOne Landscape Supply will post 3.61 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Doug Black sold 29,760 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $129.28, for a total value of $3,847,372.80. Following the sale, the chief executive officer owned 596,684 shares in the company, valued at $77,139,307.52. This represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joseph Ketter sold 39,640 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total value of $5,005,739.20. Following the completion of the sale, the executive vice president owned 13,663 shares in the company, valued at approximately $1,725,363.64. This represents a 74.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of institutional investors and hedge funds have recently modified their holdings of the company. Verdence Capital Advisors LLC grew its holdings in shares of SiteOne Landscape Supply by 6.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 3,448 shares of the industrial products company's stock worth $417,000 after acquiring an additional 223 shares during the period. Atria Wealth Solutions Inc. grew its holdings in shares of SiteOne Landscape Supply by 10.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 2,367 shares of the industrial products company's stock worth $288,000 after acquiring an additional 220 shares during the period. CWM LLC grew its holdings in shares of SiteOne Landscape Supply by 648.3% in the 2nd quarter. CWM LLC now owns 7,595 shares of the industrial products company's stock worth $919,000 after acquiring an additional 6,580 shares during the period. Callan Family Office LLC grew its holdings in shares of SiteOne Landscape Supply by 120.8% in the 2nd quarter. Callan Family Office LLC now owns 4,377 shares of the industrial products company's stock worth $529,000 after acquiring an additional 2,395 shares during the period. Finally, Blair William & Co. IL grew its holdings in shares of SiteOne Landscape Supply by 44.9% in the 2nd quarter. Blair William & Co. IL now owns 60,683 shares of the industrial products company's stock worth $7,339,000 after acquiring an additional 18,814 shares during the period.

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.