SiteOne Landscape Supply (NYSE:SITE) Upgraded to “Hold” 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 note released on Monday,Zacks reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings lowered shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 18th. KeyCorp dropped 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 research report on Thursday, July 30th. Truist Financial decreased their price objective on shares of SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. UBS Group lowered their target price on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Finally, Robert W. Baird dropped their price target 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 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $132.80.

SiteOne Landscape Supply Stock Performance

NYSE SITE opened at $89.98 on Monday. The firm has a market capitalization of $3.93 billion, a P/E ratio of 24.65, a PEG ratio of 1.32 and a beta of 1.34. The stock has a 50-day simple moving average of $96.26 and a two-hundred day simple moving average of $111.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. SiteOne Landscape Supply has a fifty-two week low of $86.20 and a fifty-two week high of $168.56.

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 the consensus estimate of $3.36 by ($0.22). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.86 earnings per share. On average, equities analysts forecast that SiteOne Landscape Supply will post 3.93 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Doug Black acquired 5,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average cost of $96.13 per share, for a total transaction of $480,650.00. Following the purchase, the chief executive officer owned 13,000 shares in the company, valued at approximately $1,249,690. This represents a 62.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

Several large investors have recently made changes to their positions in SITE. Squarepoint Ops LLC purchased a new stake in shares of SiteOne Landscape Supply during the second quarter worth $6,977,000. Legal & General Group Plc purchased a new position in shares of SiteOne Landscape Supply in the second quarter worth about $4,281,000. Bamco Inc. NY boosted its position in SiteOne Landscape Supply by 3.1% during the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock worth $252,653,000 after acquiring an additional 61,490 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in SiteOne Landscape Supply during the 2nd quarter valued at about $3,059,000. Finally, Norges Bank acquired a new stake in SiteOne Landscape Supply in the 4th quarter valued at about $18,925,000.

About SiteOne Landscape Supply

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.