Q2 2024 EPS Estimates for SiteOne Landscape Supply, Inc. Lifted by Analyst (NYSE:SITE)

SiteOne Landscape Supply, Inc. (NYSE:SITE) – Research analysts at William Blair lifted their Q2 2024 earnings estimates for shares of SiteOne Landscape Supply in a research note issued to investors on Wednesday, May 1st. William Blair analyst R. Merkel now expects that the industrial products company will post earnings per share of $2.97 for the quarter, up from their prior forecast of $2.91. The consensus estimate for SiteOne Landscape Supply’s current full-year earnings is $4.00 per share.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.07. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The firm had revenue of $965.00 million during the quarter, compared to the consensus estimate of $942.21 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. The company’s revenue was up 8.4% on a year-over-year basis.

Other analysts have also issued reports about the stock. Truist Financial upped their price objective on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Robert W. Baird lifted their price objective on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Loop Capital downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays increased their target price on SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an “underweight” rating in a research report on Thursday, February 15th. Finally, Stifel Nicolaus raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and reduced their price target for the stock from $167.00 to $165.00 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $172.63.

SiteOne Landscape Supply Trading Down 8.5 %

Shares of NYSE SITE opened at $143.51 on Thursday. SiteOne Landscape Supply has a twelve month low of $116.81 and a twelve month high of $188.01. The firm has a market cap of $6.49 billion, a PE ratio of 37.97 and a beta of 1.53. The business has a fifty day simple moving average of $169.98 and a two-hundred day simple moving average of $156.77. The company has a quick ratio of 1.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.29.

Institutional Investors Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently made changes to their positions in the stock. AE Wealth Management LLC raised its stake in shares of SiteOne Landscape Supply by 9.0% in the third quarter. AE Wealth Management LLC now owns 1,532 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 127 shares during the last quarter. SG Americas Securities LLC raised its position in SiteOne Landscape Supply by 11.6% during the 3rd quarter. SG Americas Securities LLC now owns 1,093 shares of the industrial products company’s stock worth $179,000 after buying an additional 114 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in SiteOne Landscape Supply during the 3rd quarter valued at approximately $219,000. Raymond James & Associates lifted its stake in SiteOne Landscape Supply by 1.7% during the 3rd quarter. Raymond James & Associates now owns 248,582 shares of the industrial products company’s stock valued at $40,631,000 after acquiring an additional 4,182 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of SiteOne Landscape Supply by 5.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,285 shares of the industrial products company’s stock valued at $537,000 after acquiring an additional 168 shares during the last quarter.

Insider Transactions at SiteOne Landscape Supply

In other news, CFO John T. Guthrie sold 3,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the sale, the chief financial officer now owns 15,467 shares in the company, valued at approximately $2,784,060. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO John T. Guthrie sold 3,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $180.00, for a total transaction of $540,000.00. Following the sale, the chief financial officer now owns 15,467 shares in the company, valued at $2,784,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Doug Black sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the transaction, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at $93,151,899.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,000 shares of company stock valued at $3,924,500. Corporate insiders own 2.70% of the company’s stock.

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.