SiteOne Landscape Supply (NYSE:SITE) Lowered to “Strong Sell” Rating by Zacks Research

SiteOne Landscape Supply (NYSE:SITE) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on SITE. Stifel Nicolaus decreased their price target on shares of SiteOne Landscape Supply from $140.00 to $134.00 and set a “hold” rating for the company in a research note on Tuesday, December 16th. Barclays set a $134.00 price target on shares of SiteOne Landscape Supply and gave the company an “equal weight” rating in a research note on Monday, December 8th. Bank of America assumed coverage on shares of SiteOne Landscape Supply in a research note on Thursday, December 18th. They issued a “buy” rating and a $147.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, William Blair reaffirmed a “market perform” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 15th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $150.10.

SiteOne Landscape Supply Stock Up 0.4%

SITE opened at $148.46 on Wednesday. The company has a market capitalization of $6.61 billion, a PE ratio of 48.20, a price-to-earnings-growth ratio of 1.56 and a beta of 1.58. The firm has a 50-day simple moving average of $132.67 and a two-hundred day simple moving average of $132.26. The company has a quick ratio of 1.14, a current ratio of 2.49 and a debt-to-equity ratio of 0.29. SiteOne Landscape Supply has a 52 week low of $101.25 and a 52 week high of $154.00.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. SiteOne Landscape Supply had a return on equity of 8.62% and a net margin of 2.98%.The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. Analysts forecast that SiteOne Landscape Supply will post 3.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in SiteOne Landscape Supply by 45.9% during the first quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock worth $9,126,000 after acquiring an additional 23,657 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after buying an additional 107 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of SiteOne Landscape Supply by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock valued at $25,907,000 after buying an additional 11,574 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in SiteOne Landscape Supply by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock valued at $20,679,000 after acquiring an additional 16,378 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in SiteOne Landscape Supply in the first quarter worth approximately $6,797,000.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.