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

Zacks Research upgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other equities analysts also recently weighed in on SITE. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 8th. Royal Bank Of Canada increased their price objective on shares of SiteOne Landscape Supply from $143.00 to $151.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Stifel Nicolaus set a $140.00 target price on shares of SiteOne Landscape Supply in a research report on Monday, November 17th. Barclays increased their price target on SiteOne Landscape Supply from $106.00 to $120.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Finally, William Blair reiterated a “market perform” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $152.10.

SiteOne Landscape Supply Trading Down 1.0%

NYSE SITE opened at $134.28 on Wednesday. The stock has a market cap of $5.98 billion, a P/E ratio of 43.60, a P/E/G ratio of 2.20 and a beta of 1.60. The company has a current ratio of 2.49, a quick ratio of 1.14 and a debt-to-equity ratio of 0.29. SiteOne Landscape Supply has a 12-month low of $101.25 and a 12-month high of $156.93. The company has a fifty day simple moving average of $126.41 and a two-hundred day simple moving average of $128.97.

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

Institutional Trading of SiteOne Landscape Supply

Institutional investors and hedge funds have recently made changes to their positions in the business. Avantax Advisory Services Inc. grew its stake in SiteOne Landscape Supply by 14.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,753 shares of the industrial products company’s stock valued at $1,184,000 after acquiring an additional 1,224 shares during the period. Cetera Investment Advisers lifted its holdings in SiteOne Landscape Supply by 8.0% during the first quarter. Cetera Investment Advisers now owns 10,941 shares of the industrial products company’s stock valued at $1,329,000 after purchasing an additional 809 shares in the last quarter. LPL Financial LLC grew its position in shares of SiteOne Landscape Supply by 10.8% in the first quarter. LPL Financial LLC now owns 29,841 shares of the industrial products company’s stock valued at $3,624,000 after purchasing an additional 2,913 shares during the period. XTX Topco Ltd grew its position in shares of SiteOne Landscape Supply by 45.1% in the first quarter. XTX Topco Ltd now owns 4,246 shares of the industrial products company’s stock valued at $516,000 after purchasing an additional 1,320 shares during the period. Finally, Eastern Bank purchased a new stake in shares of SiteOne Landscape Supply during the first quarter worth about $38,000.

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.