SiteOne Landscape Supply (NYSE:SITE) Stock Gets Price Target Bump from UBS Group

SiteOne Landscape Supply (NYSE:SITE) had its price objective increased by research analysts at UBS Group from $110.00 to $122.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. UBS Group‘s target price points to a potential upside of 12.01% from the company’s current price.

SITE has been the topic of a number of other reports. Stifel Nicolaus decreased their target price on SiteOne Landscape Supply from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday. Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Tuesday. William Blair reissued a “market perform” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 7th. Royal Bank Of Canada reduced their price target on SiteOne Landscape Supply from $135.00 to $124.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $114.00 price objective on shares of SiteOne Landscape Supply in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $123.00.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE traded up $4.92 during trading on Thursday, hitting $108.92. The company’s stock had a trading volume of 601,580 shares, compared to its average volume of 826,014. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.73 and a beta of 1.38. The company has a 50-day moving average of $94.08 and a 200-day moving average of $116.92. SiteOne Landscape Supply has a 12 month low of $82.00 and a 12 month high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, October 28th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.46. SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts expect that SiteOne Landscape Supply will post 3.71 earnings per share for the current year.

Insider Activity

In other news, CEO Doug Black acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average cost of $96.13 per share, for a total transaction of $480,650.00. Following the transaction, the chief executive officer directly owned 13,000 shares of the company’s stock, valued at approximately $1,249,690. This trade represents a 62.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several institutional investors have recently bought and sold shares of SITE. Bamco Inc. NY bought a new stake in SiteOne Landscape Supply in the 2nd quarter worth approximately $232,115,000. BlackRock Inc. purchased a new position in shares of SiteOne Landscape Supply in the second quarter valued at $221,355,000. Conestoga Capital Advisors LLC grew its holdings in shares of SiteOne Landscape Supply by 2.9% in the first quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company’s stock valued at $147,313,000 after purchasing an additional 31,684 shares in the last quarter. Amundi increased its position in SiteOne Landscape Supply by 49.0% in the second quarter. Amundi now owns 1,048,747 shares of the industrial products company’s stock worth $120,043,000 after purchasing an additional 344,980 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in SiteOne Landscape Supply by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 805,336 shares of the industrial products company’s stock worth $107,191,000 after purchasing an additional 28,958 shares during the last quarter.

SiteOne Landscape Supply News Summary

Here are the key news stories impacting SiteOne Landscape Supply this week:

• Positive Sentiment: SiteOne reported third-quarter adjusted EBITDA growth of 8% and a 60-basis-point expansion in adjusted EBITDA margin, despite soft underlying demand and a delayed fall season caused by hot, dry weather. The emphasis on cost control and margin gains appears to be supporting the stock. SiteOne Landscape Supply Q3 Earnings Put Margin Gains Front And Center
• Positive Sentiment: Management increased its share-repurchase authorization by $500 million. The larger buyback could provide support for earnings per share and signal confidence in the company’s long-term outlook. SiteOne Announces $500 Million Share Repurchase Increase
• Positive Sentiment: Third-quarter earnings were $1.46 per share, up from $1.31 a year earlier. Revenue also grew 2.6% year over year, while reported profit increased, indicating continued earnings improvement despite challenging market conditions. SiteOne Landscape Supply Q3 Profit Rises
• Neutral Sentiment: Revenue of approximately $1.29 billion was slightly below the roughly $1.30 billion analyst consensus, while EPS met the broader consensus estimate. The results were therefore mixed: stronger margins and profit growth offset a modest top-line miss. SiteOne Q3 Earnings Miss Estimates Despite Revenue and Profit Growth
• Negative Sentiment: Zacks Research downgraded SiteOne Landscape Supply (SITE) from “Hold” to “Strong Sell,” adding pressure to sentiment and highlighting concerns about demand and the stock’s outlook. Zacks Research Rating

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc (NYSE: SITE) is a wholesale distributor of landscape and outdoor living products in the United States and Canada. The company serves landscape professionals, irrigation contractors, golf course and sports-turf managers, nursery and greenhouse operators, and other customers in the green industry.

Its product offerings include irrigation and water-management systems, landscape lighting, nursery and greenhouse supplies, fertilizers and other agronomic products, turf-care equipment, hardscape materials, outdoor living products, and pest-control supplies.