Robert W. Baird Issues Pessimistic Forecast for SiteOne Landscape Supply (NYSE:SITE) Stock Price

SiteOne Landscape Supply (NYSE:SITE) had its price target lowered by equities research analysts at Robert W. Baird from $183.00 to $175.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective points to a potential upside of 27.80% from the stock’s current price.

SITE has been the subject of a number of other reports. StockNews.com raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Barclays raised their target price on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $175.00 in a research note on Friday, December 6th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $140.00 price objective (down previously from $145.00) on shares of SiteOne Landscape Supply in a report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $154.44.

SiteOne Landscape Supply Stock Up 2.8 %

NYSE SITE opened at $136.93 on Thursday. The stock’s 50-day moving average price is $138.47 and its 200-day moving average price is $141.48. The company has a market capitalization of $6.18 billion, a P/E ratio of 44.31 and a beta of 1.57. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. 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 issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. On average, equities research analysts predict that SiteOne Landscape Supply will post 2.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Joseph Ketter sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the sale, the executive vice president now directly owns 12,942 shares of the company’s stock, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several large investors have recently modified their holdings of the stock. Barclays PLC lifted its position in SiteOne Landscape Supply by 71.2% in the third quarter. Barclays PLC now owns 48,398 shares of the industrial products company’s stock worth $7,304,000 after buying an additional 20,134 shares during the last quarter. Holocene Advisors LP raised its stake in shares of SiteOne Landscape Supply by 38.2% in the third quarter. Holocene Advisors LP now owns 51,625 shares of the industrial products company’s stock valued at $7,791,000 after acquiring an additional 14,269 shares during the period. Algert Global LLC lifted its holdings in shares of SiteOne Landscape Supply by 375.4% in the 3rd quarter. Algert Global LLC now owns 29,506 shares of the industrial products company’s stock worth $4,453,000 after acquiring an additional 23,300 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of SiteOne Landscape Supply by 36.5% in the 3rd quarter. Janus Henderson Group PLC now owns 49,784 shares of the industrial products company’s stock worth $7,512,000 after acquiring an additional 13,314 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of SiteOne Landscape Supply by 16.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 35,269 shares of the industrial products company’s stock worth $5,322,000 after purchasing an additional 4,970 shares during the period.

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.