SiteOne Landscape Supply (NYSE:SITE) Upgraded at StockNews.com

StockNews.com upgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Several other brokerages have also recently commented on SITE. The Goldman Sachs Group initiated coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 target price for the company. Barclays boosted their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their target price for the company from $145.00 to $175.00 in a report on Friday, December 6th. Finally, Robert W. Baird boosted their price target on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $156.44.

SiteOne Landscape Supply Trading Up 0.8 %

Shares of NYSE:SITE opened at $143.65 on Tuesday. The company has a market capitalization of $6.48 billion, a P/E ratio of 46.49 and a beta of 1.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The business’s 50 day simple moving average is $141.07 and its 200 day simple moving average is $141.60. SiteOne Landscape Supply has a 1 year low of $114.60 and a 1 year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts anticipate that SiteOne Landscape Supply will post 2.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the sale, the executive vice president now directly owns 12,942 shares in the company, valued at $1,840,352.40. This represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several institutional investors and hedge funds have recently made changes to their positions in SITE. Tidal Investments LLC boosted its position in SiteOne Landscape Supply by 1.5% during the third quarter. Tidal Investments LLC now owns 5,166 shares of the industrial products company’s stock valued at $780,000 after acquiring an additional 77 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of SiteOne Landscape Supply by 90.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Arkadios Wealth Advisors grew its stake in SiteOne Landscape Supply by 6.1% during the third quarter. Arkadios Wealth Advisors now owns 1,842 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 106 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in SiteOne Landscape Supply by 5.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,131 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 113 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in SiteOne Landscape Supply by 2.3% in the third quarter. Glenmede Trust Co. NA now owns 5,279 shares of the industrial products company’s stock valued at $797,000 after buying an additional 119 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.