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

SiteOne Landscape Supply (NYSE:SITE) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a $165.00 target price on the industrial products company’s stock, down from their prior target price of $167.00. Stifel Nicolaus’ target price indicates a potential upside of 8.25% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Robert W. Baird raised their price objective on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Barclays increased their target price on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an “underweight” rating in a report on Thursday, February 15th. Loop Capital downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Truist Financial upped their price target on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, SiteOne Landscape Supply currently has a consensus rating of “Hold” and a consensus price target of $167.50.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE traded up $2.06 during midday trading on Thursday, reaching $152.42. 481,180 shares of the company’s stock traded hands, compared to its average volume of 350,666. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 2.36. SiteOne Landscape Supply has a one year low of $116.81 and a one year high of $188.01. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 44.18 and a beta of 1.53. The stock has a 50 day moving average of $169.37 and a 200 day moving average of $156.71.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The company had revenue of $904.80 million for the quarter, compared to analysts’ expectations of $864.01 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that SiteOne Landscape Supply will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total value of $1,763,500.00. Following the completion of the transaction, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at $101,340,761.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.35, for a total transaction of $1,763,500.00. Following the sale, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at $101,340,761.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the sale, the chief financial officer now owns 15,467 shares in the company, valued at $2,784,060. The disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock valued at $3,924,500 in the last quarter. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp grew its holdings in SiteOne Landscape Supply by 1.5% during the 3rd quarter. Northern Trust Corp now owns 221,336 shares of the industrial products company’s stock valued at $36,177,000 after purchasing an additional 3,301 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of SiteOne Landscape Supply by 33.4% during the 4th quarter. WCM Investment Management LLC now owns 33,429 shares of the industrial products company’s stock worth $5,483,000 after acquiring an additional 8,379 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in SiteOne Landscape Supply by 10.8% during the 4th quarter. Handelsbanken Fonder AB now owns 229,237 shares of the industrial products company’s stock valued at $37,251,000 after acquiring an additional 22,400 shares during the period. Hsbc Holdings PLC bought a new position in SiteOne Landscape Supply in the 3rd quarter valued at $1,826,000. Finally, Trexquant Investment LP purchased a new stake in SiteOne Landscape Supply in the third quarter worth $4,060,000.

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.