BidaskClub upgraded shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) from a buy rating to a strong-buy rating in a research note released on Thursday morning.

Several other research analysts have also recently weighed in on SITE. Deutsche Bank AG reaffirmed a buy rating and set a $60.00 price objective (up from $55.00) on shares of SiteOne Landscape Supply in a research report on Thursday, August 10th. Zacks Investment Research cut SiteOne Landscape Supply from a hold rating to a sell rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $63.00 price objective on shares of SiteOne Landscape Supply in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $54.50.

Shares of SiteOne Landscape Supply (NYSE SITE) opened at 56.03 on Thursday. The stock has a market capitalization of $2.23 billion, a P/E ratio of 52.36 and a beta of 2.07. SiteOne Landscape Supply has a 1-year low of $26.60 and a 1-year high of $56.59. The stock’s 50 day moving average price is $51.21 and its 200-day moving average price is $49.76.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.04). The firm had revenue of $608.60 million for the quarter, compared to analyst estimates of $607.94 million. SiteOne Landscape Supply had a return on equity of 27.37% and a net margin of 2.46%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the company earned ($3.18) earnings per share. Equities research analysts anticipate that SiteOne Landscape Supply will post $1.31 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of SITE. Ameritas Investment Partners Inc. boosted its position in SiteOne Landscape Supply by 223.8% during the second quarter. Ameritas Investment Partners Inc. now owns 2,937 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 2,030 shares during the last quarter. Advisor Group Inc. boosted its position in SiteOne Landscape Supply by 156.6% during the second quarter. Advisor Group Inc. now owns 3,192 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 1,948 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in SiteOne Landscape Supply by 191.5% during the second quarter. Great West Life Assurance Co. Can now owns 3,789 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 2,489 shares during the last quarter. Amalgamated Bank acquired a new position in SiteOne Landscape Supply during the second quarter valued at approximately $201,000. Finally, DF Dent & Co. Inc. acquired a new position in SiteOne Landscape Supply during the first quarter valued at approximately $218,000.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.

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