Zacks Research Upgrades SiteOne Landscape Supply (NYSE:SITE) to “Hold”

SiteOne Landscape Supply (NYSE:SITE) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

SITE has been the subject of several other reports. Weiss Ratings downgraded SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 18th. KeyCorp cut their price target on shares of SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada reduced their price target 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. Barclays lowered their price objective 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, Robert W. Baird dropped their target price on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $132.80.

SiteOne Landscape Supply Trading Down 1.0%

SITE opened at $89.98 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. The stock’s 50 day moving average price is $96.26 and its 200-day moving average price is $111.63. SiteOne Landscape Supply has a one year low of $86.20 and a one year high of $168.56. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 1.32 and a beta of 1.34.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). The business had revenue of $1.53 billion for 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%.SiteOne Landscape Supply’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.86 earnings per share. On average, equities analysts forecast that SiteOne Landscape Supply will post 3.93 EPS for the current year.

Insider Transactions at SiteOne Landscape Supply

In related news, CEO Doug Black bought 8,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the purchase, the chief executive officer directly owned 8,000 shares of the company’s stock, valued at approximately $816,240. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SITE. Wasatch Advisors LP boosted its stake in SiteOne Landscape Supply by 1.6% in the first quarter. Wasatch Advisors LP now owns 2,121,524 shares of the industrial products company’s stock valued at $282,396,000 after acquiring an additional 33,347 shares in the last quarter. Bamco Inc. NY acquired a new position in shares of SiteOne Landscape Supply during the second quarter worth $232,115,000. BlackRock Inc. acquired a new position in shares of SiteOne Landscape Supply during the second quarter worth $221,355,000. Capital World Investors increased its position in shares of SiteOne Landscape Supply by 37.9% during the fourth quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock worth $174,675,000 after purchasing an additional 385,666 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of SiteOne Landscape Supply by 2.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company’s stock valued at $147,313,000 after purchasing an additional 31,684 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.