SiteOne Landscape Supply, Inc. (NYSE:SITE) Receives $172.88 Average Target Price from Brokerages

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) have been given a consensus rating of “Hold” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $172.88.

SITE has been the subject of several research reports. Barclays increased their price objective on SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an “underweight” rating in a research report on Thursday, February 15th. Truist Financial upped their target price on SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Royal Bank of Canada upped their target price on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Robert W. Baird upped their target price on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, Loop Capital lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Monday, January 8th.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares in the company, valued at $93,151,899.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares in the company, valued at $93,151,899.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO John T. Guthrie sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the transaction, the chief financial officer now owns 15,467 shares in the company, valued at approximately $2,784,060. The disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock worth $3,924,500 over the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at about $26,000. Operose Advisors LLC bought a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at about $28,000. Principal Securities Inc. bought a new position in shares of SiteOne Landscape Supply during the 4th quarter valued at about $31,000. GAMMA Investing LLC bought a new position in shares of SiteOne Landscape Supply during the 4th quarter valued at about $38,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of SiteOne Landscape Supply by 588.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 247 shares in the last quarter.

SiteOne Landscape Supply Stock Down 8.5 %

SITE opened at $143.51 on Monday. SiteOne Landscape Supply has a 1-year low of $116.81 and a 1-year high of $188.01. The company has a current ratio of 2.43, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 37.97 and a beta of 1.54. The business has a 50 day moving average of $169.98 and a 200-day moving average of $156.77.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.07. SiteOne Landscape Supply had a return on equity of 12.13% and a net margin of 4.03%. The company had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $942.21 million. During the same period in the prior year, the business earned ($0.02) earnings per share. SiteOne Landscape Supply’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that SiteOne Landscape Supply will post 4.04 earnings per share for the current year.

About SiteOne Landscape Supply

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.