SiteOne Landscape Supply (NYSE:SITE) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price target on the stock. Barclays raised their target price on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Robert W. Baird upped their target price on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their price target for the stock from $145.00 to $175.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $156.44.

SiteOne Landscape Supply Stock Down 1.5 %

Shares of SiteOne Landscape Supply stock opened at $145.48 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $141.00 and a 200 day moving average price of $141.59. SiteOne Landscape Supply has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The firm has a market cap of $6.56 billion, a P/E ratio of 47.08 and a beta of 1.56.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.21). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. On average, sell-side analysts forecast that SiteOne Landscape Supply will post 2.94 earnings per share for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the transaction, the executive vice president now owns 12,942 shares in the company, valued at $1,840,352.40. This represents a 33.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by insiders.

Institutional Trading of SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in SITE. Hsbc Holdings PLC raised its holdings in SiteOne Landscape Supply by 20.3% during the second quarter. Hsbc Holdings PLC now owns 4,563 shares of the industrial products company’s stock worth $555,000 after purchasing an additional 769 shares in the last quarter. Bank of Montreal Can increased its position in shares of SiteOne Landscape Supply by 16.8% during the 2nd quarter. Bank of Montreal Can now owns 10,772 shares of the industrial products company’s stock valued at $1,356,000 after purchasing an additional 1,547 shares during the period. Xponance Inc. raised its stake in shares of SiteOne Landscape Supply by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,069 shares of the industrial products company’s stock worth $373,000 after buying an additional 214 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of SiteOne Landscape Supply by 687.6% in the second quarter. Marshall Wace LLP now owns 10,884 shares of the industrial products company’s stock valued at $1,321,000 after buying an additional 9,502 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in SiteOne Landscape Supply during the second quarter valued at about $1,525,000.

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.