SiteOne Landscape Supply (NYSE:SITE) Stock Gets Price Target Cut from Royal Bank Of Canada

SiteOne Landscape Supply (NYSE:SITE) had its price objective trimmed by Royal Bank Of Canada from $135.00 to $124.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 18th. Barclays decreased their target price on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. William Blair reiterated a “market perform” rating on shares of SiteOne Landscape Supply in a research report on Wednesday. Stifel Nicolaus reiterated a “hold” rating and set a $100.00 price target (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Finally, UBS Group cut their price objective on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $124.80.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE opened at $87.13 on Wednesday. SiteOne Landscape Supply has a fifty-two week low of $82.00 and a fifty-two week high of $168.56. The stock has a fifty day moving average of $94.64 and a 200-day moving average of $109.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. The stock has a market cap of $3.80 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.27 and a beta of 1.38.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.22). SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company earned $2.86 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that SiteOne Landscape Supply will post 3.93 earnings per share for the current year.

Insider Activity at SiteOne Landscape Supply

In other news, CEO Doug Black purchased 8,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the acquisition, the chief executive officer directly owned 8,000 shares of the company’s stock, valued at $816,240. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by insiders.

Institutional Trading of SiteOne Landscape Supply

Several large investors have recently modified their holdings of SITE. Wasatch Advisors LP increased its position in SiteOne Landscape Supply by 1.6% during the 1st quarter. Wasatch Advisors LP now owns 2,121,524 shares of the industrial products company’s stock valued at $282,396,000 after purchasing an additional 33,347 shares during the period. Bamco Inc. NY purchased a new position in shares of SiteOne Landscape Supply during the second quarter valued at about $232,115,000. BlackRock Inc. bought a new position in SiteOne Landscape Supply in the second quarter worth about $221,355,000. Conestoga Capital Advisors LLC lifted its holdings in SiteOne Landscape Supply by 2.9% in the first quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company’s stock worth $147,313,000 after buying an additional 31,684 shares during the period. Finally, Amundi lifted its holdings in SiteOne Landscape Supply by 49.0% in the second quarter. Amundi now owns 1,048,747 shares of the industrial products company’s stock worth $120,043,000 after buying an additional 344,980 shares during the period.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, landscape designers, irrigation professionals, golf course managers, government agencies and other green-industry businesses through a network of distribution centers and branches.

Its product portfolio includes irrigation and outdoor lighting equipment, nursery products, turf and landscape maintenance supplies, fertilizers and other agronomic products, hardscape materials, outdoor living products, and golf course maintenance supplies.