Barclays Forecasts Strong Price Appreciation for SiteOne Landscape Supply (NYSE:SITE) Stock

SiteOne Landscape Supply (NYSE:SITEGet Free Report) had its target price boosted by equities research analysts at Barclays from $114.00 to $120.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price objective suggests a potential downside of 15.56% from the stock’s previous close.

A number of other research firms also recently commented on SITE. The Goldman Sachs Group started coverage on shares of SiteOne Landscape Supply in a report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price objective on the stock. Robert W. Baird upped their price target on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial upped their price target on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reduced their price target on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. Finally, Jefferies Financial Group reduced their price objective on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, SiteOne Landscape Supply has a consensus rating of “Hold” and an average target price of $147.80.

Check Out Our Latest Report on SiteOne Landscape Supply

SiteOne Landscape Supply Price Performance

SITE stock traded down $6.08 during trading on Thursday, reaching $142.12. 243,438 shares of the company were exchanged, compared to its average volume of 363,716. The company has a market cap of $6.43 billion, a P/E ratio of 41.28 and a beta of 1.53. SiteOne Landscape Supply has a 52-week low of $114.60 and a 52-week high of $188.01. The stock’s 50 day moving average price is $143.39 and its 200 day moving average price is $142.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 2.47.

SiteOne Landscape Supply (NYSE:SITEGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. As a group, analysts predict that SiteOne Landscape Supply will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Fred M. Diaz sold 878 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $129.04, for a total value of $113,297.12. Following the completion of the sale, the director now owns 11,267 shares of the company’s stock, valued at $1,453,893.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank purchased a new position in shares of SiteOne Landscape Supply in the first quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of SiteOne Landscape Supply in the second quarter valued at $27,000. Blue Trust Inc. boosted its stake in SiteOne Landscape Supply by 287.7% during the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 187 shares during the last quarter. American National Bank & Trust bought a new position in SiteOne Landscape Supply during the 3rd quarter valued at $49,000. Finally, Eagle Bay Advisors LLC boosted its stake in SiteOne Landscape Supply by 126.9% during the 3rd quarter. Eagle Bay Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 278 shares during the last quarter.

SiteOne Landscape Supply Company Profile

(Get Free Report)

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.

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Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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