SiteOne Landscape Supply, Inc. (NYSE:SITE) Stock Has Average Price Target of $123.00

SiteOne Landscape Supply, Inc. (NYSE:SITE) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $123.00.

SITE has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $114.00 target price on shares of SiteOne Landscape Supply in a report on Wednesday, October 28th. Truist Financial reduced their target price on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 30th. KeyCorp decreased their price target on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Zacks Research cut SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 27th. Finally, Deutsche Bank downgraded SiteOne Landscape Supply from a “buy” rating to a “hold” rating and cut their price objective for the stock from $127.00 to $91.00 in a report on Thursday, October 8th.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black purchased 9,100 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were acquired at an average price of $110.30 per share, for a total transaction of $1,003,730.00. Following the completion of the acquisition, the chief executive officer directly owned 18,141 shares of the company’s stock, valued at $2,000,952.30. The trade was a 100.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SITE. Squarepoint Ops LLC purchased a new position in shares of SiteOne Landscape Supply during the second quarter valued at $6,977,000. Legal & General Group Plc purchased a new stake in SiteOne Landscape Supply in the 2nd quarter worth about $4,281,000. Oppenheimer Asset Management Inc. purchased a new stake in SiteOne Landscape Supply in the 2nd quarter worth about $3,059,000. The Manufacturers Life Insurance Company purchased a new stake in SiteOne Landscape Supply in the 2nd quarter worth about $1,513,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in SiteOne Landscape Supply during the 2nd quarter worth about $1,503,000.

SiteOne Landscape Supply Trading Down 1.2%

Shares of NYSE:SITE opened at $112.82 on Tuesday. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 1.78 and a beta of 1.29. SiteOne Landscape Supply has a 1-year low of $82.00 and a 1-year high of $168.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 2.41. The company has a 50 day moving average price of $97.88 and a 200 day moving average price of $115.12.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.46. SiteOne Landscape Supply had a return on equity of 10.06% and a net margin of 3.49%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company earned $1.31 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, research analysts anticipate that SiteOne Landscape Supply will post 3.74 EPS for the current fiscal year.

About SiteOne Landscape Supply

SiteOne Landscape Supply is a wholesale distributor of products and services for the landscape, irrigation, and outdoor living industries. Its customers include landscape contractors, irrigation professionals, lawn-care businesses, and other green-industry professionals. The company offers a broad range of supplies, including irrigation and drainage products, nursery goods, fertilizer and other agronomic products, hardscape materials, outdoor lighting, tools, and snow and ice management products.