Jefferies Financial Group Lowers SiteOne Landscape Supply (NYSE:SITE) Price Target to $125.00

SiteOne Landscape Supply (NYSE:SITE) had its target price cut by Jefferies Financial Group from $160.00 to $125.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Jefferies Financial Group’s price objective would indicate a potential downside of 1.23% from the stock’s previous close.

Several other brokerages have also weighed in on SITE. Barclays reduced their price objective on SiteOne Landscape Supply from $133.00 to $129.00 and set an “underweight” rating for the company in a report on Wednesday, June 5th. Stifel Nicolaus lowered their target price on shares of SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Truist Financial dropped their price target on SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. Robert W. Baird reduced their target price on SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, UBS Group reduced their price target on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $148.78.

SiteOne Landscape Supply Stock Up 5.3 %

SITE stock traded up $6.39 during mid-day trading on Thursday, reaching $126.56. 60,535 shares of the company traded hands, compared to its average volume of 348,159. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 36.68 and a beta of 1.52. The company has a quick ratio of 0.96, a current ratio of 2.36 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The firm’s 50 day moving average price is $139.22 and its 200 day moving average price is $155.93.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The firm had revenue of $904.80 million during the quarter, compared to analysts’ expectations of $864.01 million. During the same quarter last year, the business posted ($0.10) EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts predict that SiteOne Landscape Supply will post 3.81 EPS for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total value of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares in the company, valued at $93,151,899.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SITE. Vanguard Group Inc. increased its stake in shares of SiteOne Landscape Supply by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,158,085 shares of the industrial products company’s stock valued at $725,794,000 after purchasing an additional 23,362 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of SiteOne Landscape Supply by 0.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,113,359 shares of the industrial products company’s stock worth $194,337,000 after buying an additional 8,865 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of SiteOne Landscape Supply by 47.8% during the 1st quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock valued at $172,211,000 after purchasing an additional 319,071 shares during the period. Jackson Square Partners LLC increased its holdings in SiteOne Landscape Supply by 25.6% during the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock valued at $131,588,000 after buying an additional 165,067 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in SiteOne Landscape Supply by 14.7% in the 4th quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock worth $129,724,000 after purchasing an additional 102,207 shares during the period.

SiteOne Landscape Supply Company Profile

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.