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

Stifel Nicolaus upgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a buy rating in a report released on Thursday, Marketbeat.com reports. The brokerage currently has $165.00 price target on the industrial products company’s stock, down from their prior price target of $167.00.

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

SiteOne Landscape Supply Trading Up 1.4 %

Shares of SITE traded up $2.06 during mid-day trading on Thursday, reaching $152.42. 481,180 shares of the company’s stock traded hands, compared to its average volume of 350,666. SiteOne Landscape Supply has a 12 month low of $116.81 and a 12 month high of $188.01. 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 stock has a market cap of $6.89 billion, a P/E ratio of 44.18 and a beta of 1.53. The stock’s 50-day moving average is $169.37 and its two-hundred day moving average is $156.71.

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

Insider Buying and Selling

In related news, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total value of $1,763,500.00. Following the completion of the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at $101,340,761.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total value of $1,763,500.00. Following the completion of the sale, the chief executive officer now owns 574,657 shares in the company, valued at approximately $101,340,761.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 15,467 shares of the company’s stock, valued at $2,784,060. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,000 shares of company stock worth $3,924,500. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of SiteOne Landscape Supply

Several hedge funds have recently made changes to their positions in the business. Northern Trust Corp grew its stake in SiteOne Landscape Supply by 1.5% during the 3rd quarter. Northern Trust Corp now owns 221,336 shares of the industrial products company’s stock worth $36,177,000 after purchasing an additional 3,301 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of SiteOne Landscape Supply by 33.4% during the fourth quarter. WCM Investment Management LLC now owns 33,429 shares of the industrial products company’s stock worth $5,483,000 after buying an additional 8,379 shares during the period. Handelsbanken Fonder AB raised its holdings in SiteOne Landscape Supply by 10.8% in the fourth quarter. Handelsbanken Fonder AB now owns 229,237 shares of the industrial products company’s stock valued at $37,251,000 after acquiring an additional 22,400 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in SiteOne Landscape Supply in the third quarter valued at approximately $1,826,000. Finally, Trexquant Investment LP purchased a new position in SiteOne Landscape Supply in the third quarter worth approximately $4,060,000.

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.