SiteOne Landscape Supply (NYSE:SITE) Price Target Cut to $175.00 by Analysts at Truist Financial

SiteOne Landscape Supply (NYSE:SITE) had its price target trimmed by Truist Financial from $204.00 to $175.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other research firms also recently commented on SITE. Loop Capital downgraded SiteOne Landscape Supply from a buy rating to a hold rating in a report on Monday, January 8th. Stifel Nicolaus upgraded shares of SiteOne Landscape Supply from a hold rating to a buy rating and reduced their price target for the stock from $167.00 to $165.00 in a research report on Thursday. Robert W. Baird boosted their price objective on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Barclays raised 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. Finally, 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 report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of Hold and a consensus price target of $167.50.

SiteOne Landscape Supply Stock Up 1.4 %

SITE stock opened at $152.42 on Thursday. The company has a market capitalization of $6.89 billion, a P/E ratio of 44.18 and a beta of 1.53. The firm has a 50 day simple moving average of $169.37 and a 200-day simple moving average of $156.81. The company has a current ratio of 2.36, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply has a twelve month low of $116.81 and a twelve month high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last announced 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). 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%. SiteOne Landscape Supply’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) earnings per share. On average, equities research analysts predict that SiteOne Landscape Supply will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Doug Black sold 10,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 574,657 shares of the company’s stock, valued at $101,340,761.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO John T. Guthrie sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 574,657 shares in the company, valued at approximately $101,340,761.95. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock valued at $3,924,500 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several large investors have recently made changes to their positions in the business. Wasatch Advisors LP boosted its holdings in SiteOne Landscape Supply by 47.8% during the first quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock worth $172,211,000 after buying an additional 319,071 shares in the last quarter. Jackson Square Partners LLC raised its position in SiteOne Landscape Supply by 25.6% during the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock valued at $131,588,000 after buying an additional 165,067 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in 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 worth $41,587,000 after acquiring an additional 128,076 shares in the last quarter. Jennison Associates LLC acquired a new stake in SiteOne Landscape Supply during the 3rd quarter worth about $17,835,000. Finally, Allianz Asset Management GmbH grew its stake in SiteOne Landscape Supply by 14.7% during the 4th 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.

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.