SiteOne Landscape Supply (NYSE:SITE) Given New $120.00 Price Target at Barclays

SiteOne Landscape Supply (NYSE:SITE) had its price objective raised by Barclays from $114.00 to $120.00 in a report issued on Thursday morning, Benzinga reports. Barclays currently has an underweight rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Robert W. Baird lifted their price target on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Truist Financial lifted their price target on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. UBS Group lowered their price target on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Jefferies Financial Group lowered their price target on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SiteOne Landscape Supply currently has a consensus rating of “Hold” and a consensus target price of $147.80.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $141.96 on Thursday. The company has a current ratio of 2.53, a quick ratio of 1.10 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $143.39 and a two-hundred day moving average price of $141.61. SiteOne Landscape Supply has a twelve month low of $114.60 and a twelve month high of $188.01. The company has a market capitalization of $6.41 billion, a P/E ratio of 45.94 and a beta of 1.53.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business posted $1.25 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, research analysts expect that SiteOne Landscape Supply will post 3.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several hedge funds have recently modified their holdings of SITE. Bank of New York Mellon Corp boosted its position in shares of SiteOne Landscape Supply by 49.3% in the second quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock worth $58,226,000 after acquiring an additional 158,350 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in SiteOne Landscape Supply during the first quarter valued at approximately $21,860,000. Vaughan Nelson Investment Management L.P. lifted its position in SiteOne Landscape Supply by 130.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company’s stock valued at $24,065,000 after buying an additional 112,362 shares in the last quarter. American Century Companies Inc. lifted its position in SiteOne Landscape Supply by 44.3% during the second quarter. American Century Companies Inc. now owns 360,079 shares of the industrial products company’s stock valued at $43,717,000 after buying an additional 110,589 shares in the last quarter. Finally, Swedbank AB acquired a new position in SiteOne Landscape Supply during the first quarter valued at approximately $16,757,000.

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.