Barclays Trims SiteOne Landscape Supply (NYSE:SITE) Target Price to $133.00

SiteOne Landscape Supply (NYSE:SITE) had its price target cut by Barclays from $145.00 to $133.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an underweight rating on the industrial products company’s stock.

Several other equities analysts have also commented on the stock. Truist Financial decreased their target price on shares of SiteOne Landscape Supply from $204.00 to $175.00 and set a buy rating on the stock in a report on Thursday. Loop Capital cut SiteOne Landscape Supply from a buy rating to a hold rating in a research note on Monday, January 8th. Stifel Nicolaus upgraded SiteOne Landscape Supply from a hold rating to a buy rating and decreased their price target for the company from $167.00 to $165.00 in a research note on Thursday. Royal Bank of Canada upped their price objective on SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a sector perform rating in a research report on Thursday, February 15th. Finally, Robert W. Baird increased their target price on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an outperform rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $167.50.

SiteOne Landscape Supply Stock Performance

NYSE SITE opened at $152.42 on Thursday. SiteOne Landscape Supply has a 12-month low of $116.81 and a 12-month high of $188.01. The firm has a 50-day moving average price of $169.37 and a two-hundred day moving average price of $156.72. The company has a market capitalization of $6.89 billion, a P/E ratio of 44.18 and a beta of 1.53. The company has a quick ratio of 1.10, a current ratio of 2.36 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). The company had revenue of $904.80 million for the quarter, compared to analyst estimates of $864.01 million. SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) EPS. Analysts anticipate that SiteOne Landscape Supply will post 4.02 earnings per share for the current year.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.35, for a total value of $1,763,500.00. Following the sale, the chief executive officer now owns 574,657 shares in the company, valued at approximately $101,340,761.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 574,657 shares in the company, valued at approximately $101,340,761.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John T. Guthrie sold 3,000 shares of the stock in a transaction on 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 $2,784,060. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock worth $3,924,500 over the last three months. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its stake in shares of SiteOne Landscape Supply by 47.8% in the 1st quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock valued at $172,211,000 after acquiring an additional 319,071 shares in the last quarter. Jackson Square Partners LLC boosted its position in shares of SiteOne Landscape Supply by 25.6% during the 4th quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock worth $131,588,000 after purchasing an additional 165,067 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of SiteOne Landscape Supply by 100.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 255,922 shares of the industrial products company’s stock valued at $41,587,000 after buying an additional 128,076 shares during the period. Jennison Associates LLC bought a new stake in SiteOne Landscape Supply in the 3rd quarter valued at about $17,835,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of SiteOne Landscape Supply by 14.7% during the fourth quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock valued at $129,724,000 after acquiring an additional 102,207 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.