SiteOne Landscape Supply (NYSE:SITE) Stock Rating Upgraded by Zacks Research

SiteOne Landscape Supply (NYSE:SITE) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Other equities research analysts have also issued reports about the company. UBS Group decreased their price target on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Weiss Ratings lowered SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 18th. Robert W. Baird reduced their target price on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Finally, KeyCorp decreased their target price on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $132.80.

SiteOne Landscape Supply Stock Performance

SiteOne Landscape Supply stock opened at $89.98 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. SiteOne Landscape Supply has a 1-year low of $86.20 and a 1-year high of $168.56. The firm has a market capitalization of $3.93 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The company’s 50-day moving average is $96.26 and its 200 day moving average is $111.63.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.22). SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $2.86 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that SiteOne Landscape Supply will post 3.93 EPS for the current year.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black purchased 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average price of $102.03 per share, with a total value of $816,240.00. Following the completion of the purchase, the chief executive officer owned 8,000 shares of the company’s stock, valued at approximately $816,240. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently bought and sold shares of the company. SkyView Investment Advisors LLC purchased a new stake in shares of SiteOne Landscape Supply in the 2nd quarter worth $114,000. WINTON GROUP Ltd purchased a new position in shares of SiteOne Landscape Supply during the second quarter valued at $675,000. Engineers Gate Manager LP raised its holdings in shares of SiteOne Landscape Supply by 268.3% in the second quarter. Engineers Gate Manager LP now owns 10,630 shares of the industrial products company’s stock valued at $1,216,000 after acquiring an additional 7,744 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of SiteOne Landscape Supply in the second quarter valued at about $6,977,000. Finally, Nykredit A S bought a new stake in shares of SiteOne Landscape Supply in the second quarter valued at about $272,000.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape, irrigation, and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, golf course professionals, green-industry businesses, municipalities, and other commercial customers through a network of local branches and distribution facilities.

Its product offerings include irrigation and water-management systems, nursery and landscape supplies, seed, fertilizer, turf and ornamental plant protection products, landscape lighting, hardscape materials, outdoor living products, and related maintenance equipment.