SiteOne Landscape Supply (NYSE:SITE) Stock Rating Lowered by Zacks Research

SiteOne Landscape Supply (NYSE:SITE) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on SITE. William Blair restated a “market perform” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, October 15th. The Goldman Sachs Group dropped their target price on SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Bank of America assumed coverage on SiteOne Landscape Supply in a research note on Thursday, December 18th. They set a “buy” rating and a $147.00 price target for the company. Royal Bank Of Canada upgraded shares of SiteOne Landscape Supply from a “sector perform” rating to an “outperform” rating and set a $151.00 price objective on the stock in a research note on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SiteOne Landscape Supply has an average rating of “Hold” and a consensus target price of $150.10.

SiteOne Landscape Supply Stock Up 0.4%

SITE stock opened at $148.46 on Wednesday. The business has a 50 day moving average of $132.67 and a 200 day moving average of $132.26. The firm has a market cap of $6.61 billion, a PE ratio of 48.20, a price-to-earnings-growth ratio of 1.56 and a beta of 1.58. SiteOne Landscape Supply has a twelve month low of $101.25 and a twelve month high of $154.00. The company has a quick ratio of 1.14, a current ratio of 2.49 and a debt-to-equity ratio of 0.29.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, October 29th. The industrial products company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. SiteOne Landscape Supply had a return on equity of 8.62% and a net margin of 2.98%.The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, research analysts forecast that SiteOne Landscape Supply will post 3.61 EPS for the current fiscal year.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of hedge funds have recently modified their holdings of SITE. 59 North Capital Management LP purchased a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at $214,417,000. Cartenna Capital LP purchased a new position in shares of SiteOne Landscape Supply in the third quarter valued at about $63,756,000. Amundi purchased a new position in shares of SiteOne Landscape Supply in the third quarter valued at about $59,763,000. AQR Capital Management LLC raised its stake in SiteOne Landscape Supply by 743.5% during the 2nd quarter. AQR Capital Management LLC now owns 441,192 shares of the industrial products company’s stock valued at $52,440,000 after purchasing an additional 388,890 shares during the period. Finally, Balyasny Asset Management L.P. lifted its holdings in SiteOne Landscape Supply by 791.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 351,041 shares of the industrial products company’s stock worth $45,214,000 after purchasing an additional 311,641 shares in the last quarter.

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.