Bank of America Cuts SiteOne Landscape Supply (NYSE:SITE) Price Target to $167.00

SiteOne Landscape Supply (NYSE:SITE) had its target price cut by Bank of America from $182.00 to $167.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other analysts also recently issued reports on SITE. UBS Group began coverage on SiteOne Landscape Supply in a research note on Friday, April 10th. They set a “neutral” rating and a $140.00 price target for the company. Robert W. Baird set a $190.00 price target on SiteOne Landscape Supply in a research note on Thursday, February 12th. Truist Financial upped their price target on SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Barclays upped their price target on SiteOne Landscape Supply from $134.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Finally, Stifel Nicolaus set a $144.00 price target on SiteOne Landscape Supply in a research note on Monday, February 9th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $162.22.

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE opened at $143.43 on Monday. The business’s 50-day moving average price is $138.36 and its two-hundred day moving average price is $134.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 1.20. SiteOne Landscape Supply has a one year low of $108.11 and a one year high of $168.56. The company has a market capitalization of $6.36 billion, a P/E ratio of 42.69, a price-to-earnings-growth ratio of 1.78 and a beta of 1.57.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.48) earnings per share. Analysts anticipate that SiteOne Landscape Supply will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, EVP Eric J. Elema sold 1,765 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $158.01, for a total transaction of $278,887.65. Following the completion of the transaction, the executive vice president owned 2,911 shares of the company’s stock, valued at approximately $459,967.11. The trade was a 37.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Large investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of SiteOne Landscape Supply during the 3rd quarter worth about $1,932,000. Interval Partners LP acquired a new position in shares of SiteOne Landscape Supply during the 3rd quarter worth about $12,720,000. Magnetar Financial LLC lifted its position in shares of SiteOne Landscape Supply by 41.0% during the 3rd quarter. Magnetar Financial LLC now owns 46,669 shares of the industrial products company’s stock worth $6,011,000 after purchasing an additional 13,572 shares during the last quarter. 59 North Capital Management LP acquired a new position in shares of SiteOne Landscape Supply during the 3rd quarter worth about $214,417,000. Finally, Kinetic Partners Management LP acquired a new position in shares of SiteOne Landscape Supply during the 3rd quarter worth about $20,286,000.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.