Q2 2024 Earnings Forecast for SiteOne Landscape Supply, Inc. Issued By William Blair (NYSE:SITE)

SiteOne Landscape Supply, Inc. (NYSE:SITE) – Stock analysts at William Blair boosted their Q2 2024 earnings estimates for SiteOne Landscape Supply in a research note issued to investors on Wednesday, May 1st. William Blair analyst R. Merkel now expects that the industrial products company will earn $2.97 per share for the quarter, up from their prior estimate of $2.91. The consensus estimate for SiteOne Landscape Supply’s current full-year earnings is $4.00 per share.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. The company had revenue of $965.00 million during the quarter, compared to the consensus estimate of $942.21 million. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) EPS.

Several other analysts also recently weighed in on SITE. Royal Bank of Canada boosted their price target on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. Loop Capital cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and reduced their price target for the stock from $167.00 to $165.00 in a research report on Thursday. Robert W. Baird boosted their price objective on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, Truist Financial increased their price objective on SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $172.63.

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE opened at $143.51 on Thursday. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 37.97 and a beta of 1.53. The stock’s 50-day moving average is $169.98 and its 200 day moving average is $156.77. The company has a current ratio of 2.43, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. SiteOne Landscape Supply has a 1-year low of $116.81 and a 1-year high of $188.01.

Institutional Investors Weigh In On SiteOne Landscape Supply

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC purchased a new stake in shares of SiteOne Landscape Supply during the third quarter valued at approximately $26,000. Operose Advisors LLC bought a new position in SiteOne Landscape Supply in the 3rd quarter valued at approximately $28,000. Principal Securities Inc. purchased a new stake in SiteOne Landscape Supply during the 4th quarter valued at $31,000. GAMMA Investing LLC purchased a new stake in SiteOne Landscape Supply during the 4th quarter valued at $38,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of SiteOne Landscape Supply by 588.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 247 shares in the last quarter.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $180.00, for a total transaction of $540,000.00. Following the transaction, the chief financial officer now owns 15,467 shares in the company, valued at approximately $2,784,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the transaction, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at approximately $93,151,899.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the sale, the chief financial officer now owns 15,467 shares in the company, valued at approximately $2,784,060. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock worth $3,924,500 over the last 90 days. 2.70% of the stock is owned by company insiders.

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.