Brokerages Set SiteOne Landscape Supply, Inc. (NYSE:SITE) Target Price at $144.33

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) have been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $144.33.

Several equities analysts have issued reports on the company. Barclays cut their target price on SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. Truist Financial increased their price objective on SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 1st. UBS Group cut their price target on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada lowered their target price on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Finally, StockNews.com cut shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th.

SiteOne Landscape Supply Price Performance

SITE opened at $150.91 on Thursday. The company’s 50-day simple moving average is $139.90 and its two-hundred day simple moving average is $146.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 2.47. The stock has a market capitalization of $6.81 billion, a P/E ratio of 43.74 and a beta of 1.53. SiteOne Landscape Supply has a 52-week low of $114.60 and a 52-week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.13. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. SiteOne Landscape Supply’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 earnings per share. As a group, analysts predict that SiteOne Landscape Supply will post 3.19 EPS for the current year.

Insiders Place Their Bets

In related news, Director Fred M. Diaz sold 878 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $129.04, for a total transaction of $113,297.12. Following the completion of the sale, the director now directly owns 11,267 shares in the company, valued at $1,453,893.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of SiteOne Landscape Supply in the second quarter valued at approximately $1,616,000. Quarry LP purchased a new position in SiteOne Landscape Supply in the 2nd quarter valued at approximately $61,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of SiteOne Landscape Supply by 35.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 521 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 135 shares in the last quarter. Algert Global LLC increased its position in shares of SiteOne Landscape Supply by 273.9% during the second quarter. Algert Global LLC now owns 6,206 shares of the industrial products company’s stock worth $753,000 after acquiring an additional 4,546 shares during the period. Finally, Scientech Research LLC acquired a new position in shares of SiteOne Landscape Supply during the second quarter worth about $418,000.

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.