SiteOne Landscape Supply (NYSE:SITE) Upgraded at Zacks Research

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

Several other analysts have also commented on the company. KeyCorp cut their price objective on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Robert W. Baird dropped their target price on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Weiss Ratings downgraded SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 18th. Barclays reduced their price target on shares of SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada lowered their price objective on shares of SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $132.80.

SiteOne Landscape Supply Stock Down 1.0%

SITE opened at $89.98 on Monday. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.32 and a beta of 1.34. The firm has a 50 day moving average price of $96.26 and a 200-day moving average price of $111.63. SiteOne Landscape Supply has a twelve month low of $86.20 and a twelve month high of $168.56. The company has a quick ratio of 1.01, a current ratio of 2.30 and a debt-to-equity ratio of 0.36.

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

Insiders Place Their Bets

In related news, CEO Doug Black purchased 8,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was acquired at an average price of $102.03 per share, with a total value of $816,240.00. Following the completion of the acquisition, the chief executive officer owned 8,000 shares of the company’s stock, valued at approximately $816,240. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. lifted its stake in shares of SiteOne Landscape Supply by 72.7% in the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. Parallel Advisors LLC increased its position in shares of SiteOne Landscape Supply by 15.6% during the 1st quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 88 shares during the last quarter. Basecamp Wealth Advisors LLC increased its position in shares of SiteOne Landscape Supply by 219.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. IFP Advisors Inc raised its holdings in SiteOne Landscape Supply by 106.8% during the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after buying an additional 158 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC lifted its position in SiteOne Landscape Supply by 3.0% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 6,091 shares of the industrial products company’s stock worth $811,000 after buying an additional 176 shares during the last quarter.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape, irrigation, and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, golf course professionals, green-industry businesses, municipalities, and other commercial customers through a network of local branches and distribution facilities.

Its product offerings include irrigation and water-management systems, nursery and landscape supplies, seed, fertilizer, turf and ornamental plant protection products, landscape lighting, hardscape materials, outdoor living products, and related maintenance equipment.