SiteOne Landscape Supply (NYSE:SITE) Upgraded to “Buy” by Stifel Nicolaus

SiteOne Landscape Supply (NYSE:SITE) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $165.00 price objective on the industrial products company’s stock, down from their previous price objective of $167.00. Stifel Nicolaus’ target price points to a potential upside of 8.25% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Barclays increased their target price on SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an “underweight” rating in a report on Thursday, February 15th. Royal Bank of Canada boosted their target price on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Truist Financial increased their target price on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Loop Capital cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Robert W. Baird lifted their target price on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $167.50.

SiteOne Landscape Supply Stock Performance

Shares of SITE traded up $2.06 on Thursday, reaching $152.42. 481,180 shares of the stock traded hands, compared to its average volume of 350,666. The stock’s 50-day moving average price is $169.37 and its 200-day moving average price is $156.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.36 and a quick ratio of 1.10. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 44.18 and a beta of 1.53. SiteOne Landscape Supply has a 12 month low of $116.81 and a 12 month high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The business had revenue of $904.80 million during the quarter, compared to analyst estimates of $864.01 million. During the same quarter in the prior year, the company posted ($0.10) EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that SiteOne Landscape Supply will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On SiteOne Landscape Supply

Several institutional investors and hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new stake in shares of SiteOne Landscape Supply in the third quarter worth about $26,000. Operose Advisors LLC acquired a new stake in SiteOne Landscape Supply during the 3rd quarter worth approximately $28,000. Principal Securities Inc. acquired a new position in shares of SiteOne Landscape Supply in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC bought a new stake in shares of SiteOne Landscape Supply during the fourth quarter worth $38,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of SiteOne Landscape Supply by 588.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 247 shares during the period.

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.