SiteOne Landscape Supply (NYSE:SITE) Upgraded by KeyCorp to Strong-Buy Rating

KeyCorp upgraded shares of SiteOne Landscape Supply (NYSE:SITE) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings cut shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Stifel Nicolaus decreased their price objective on SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Zacks Research downgraded SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Barclays dropped their target price on SiteOne Landscape Supply from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $158.36.

SiteOne Landscape Supply Price Performance

SiteOne Landscape Supply stock opened at $105.19 on Monday. SiteOne Landscape Supply has a one year low of $100.52 and a one year high of $168.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 2.33. The business has a fifty day moving average of $111.42 and a two-hundred day moving average of $129.43. The company has a market cap of $4.66 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.43 and a beta of 1.34.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). The company had revenue of $940.10 million during the quarter, compared to analysts’ expectations of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. During the same quarter in the prior year, the business earned ($0.61) EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts predict that SiteOne Landscape Supply will post 4.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Fred M. Diaz sold 562 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total value of $63,236.24. Following the completion of the sale, the director directly owned 11,267 shares in the company, valued at approximately $1,267,762.84. This represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several hedge funds and other institutional investors have recently bought and sold shares of SITE. True Wealth Design LLC boosted its stake in shares of SiteOne Landscape Supply by 541.9% in the fourth quarter. True Wealth Design LLC now owns 199 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 168 shares during the period. Basecamp Wealth Advisors LLC lifted its holdings in SiteOne Landscape Supply by 219.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after buying an additional 127 shares in the last quarter. Whittier Trust Co. boosted its position in SiteOne Landscape Supply by 72.7% in the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $27,000 after buying an additional 88 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of SiteOne Landscape Supply by 1,521.4% during the fourth quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 213 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of SiteOne Landscape Supply by 106.8% during the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 158 shares during the last quarter.

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.