Brokerages Set SiteOne Landscape Supply, Inc. (NYSE:SITE) Target Price at $135.27

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) have been assigned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $135.2727.

SITE has been the subject of several analyst reports. Zacks Research cut shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a research note on Thursday, July 30th. Robert W. Baird dropped their target price on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Barclays cut 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. Finally, Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Thursday, April 30th.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, Director Fred M. Diaz sold 562 shares of SiteOne Landscape Supply stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total value of $63,236.24. Following the sale, the director directly owned 11,267 shares in the company, valued at approximately $1,267,762.84. This trade represents a 4.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC increased its position in SiteOne Landscape Supply by 45.9% during the 1st quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock valued at $9,126,000 after purchasing an additional 23,657 shares during the period. NewEdge Advisors LLC lifted its position in shares of SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 107 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of SiteOne Landscape Supply by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock valued at $25,907,000 after purchasing an additional 11,574 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of SiteOne Landscape Supply by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock valued at $20,679,000 after purchasing an additional 16,378 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of SiteOne Landscape Supply during the first quarter valued at about $6,797,000.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock opened at $101.00 on Friday. The company has a market capitalization of $4.41 billion, a P/E ratio of 27.67, a PEG ratio of 1.44 and a beta of 1.35. SiteOne Landscape Supply has a fifty-two week low of $90.07 and a fifty-two week high of $168.56. 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 50 day moving average price of $106.07 and a two-hundred day moving average price of $125.91.

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

About SiteOne Landscape Supply

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.