SiteOne Landscape Supply (NYSE:SITE) Raised to “Buy” at Stifel Nicolaus

SiteOne Landscape Supply (NYSE:SITE) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, FinViz reports. The brokerage presently has a $165.00 target price on the industrial products company’s stock, down from their prior target price of $167.00. Stifel Nicolaus’ price target would suggest a potential upside of 14.97% from the company’s previous close.

A number of other equities 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 report on Thursday, February 15th. Loop Capital cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays increased their target price on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an “underweight” rating in a research report on Thursday, February 15th. Truist Financial lifted their price target on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, Robert W. Baird increased their price objective on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, SiteOne Landscape Supply has an average rating of “Hold” and an average price target of $172.63.

SiteOne Landscape Supply Trading Down 8.5 %

Shares of SITE stock opened at $143.51 on Thursday. SiteOne Landscape Supply has a 52-week low of $116.81 and a 52-week high of $188.01. The company has a 50-day simple moving average of $169.98 and a two-hundred day simple moving average of $156.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.43. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 37.97 and a beta of 1.53.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.07. The company had revenue of $965.00 million during the quarter, compared to analyst estimates of $942.21 million. SiteOne Landscape Supply had a return on equity of 12.13% and a net margin of 4.03%. SiteOne Landscape Supply’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. Research analysts anticipate that SiteOne Landscape Supply will post 4 EPS for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, CFO John T. Guthrie sold 3,000 shares of the 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 sale, the chief financial officer now owns 15,467 shares of the company’s stock, valued at approximately $2,784,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total value 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 legal filing with the SEC, which can be accessed through the SEC website. Also, CFO John T. Guthrie sold 3,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were 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 of the company’s stock, valued at $2,784,060. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock valued at $3,924,500 in the last 90 days. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its stake in SiteOne Landscape Supply by 3.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 35,785 shares of the industrial products company’s stock worth $6,246,000 after acquiring an additional 1,084 shares during the last quarter. Norden Group LLC purchased a new position in shares of SiteOne Landscape Supply during the first quarter worth about $283,000. Van ECK Associates Corp increased its position in shares of SiteOne Landscape Supply by 36.5% in the first quarter. Van ECK Associates Corp now owns 15,089 shares of the industrial products company’s stock worth $2,634,000 after purchasing an additional 4,036 shares during the last quarter. Principal Financial Group Inc. raised its stake in SiteOne Landscape Supply by 16.8% in the first quarter. Principal Financial Group Inc. now owns 3,972 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 571 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in SiteOne Landscape Supply by 588.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 247 shares in 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.