SiteOne Landscape Supply (NYSE:SITE) PT Lowered to $175.00

SiteOne Landscape Supply (NYSE:SITE) had its price objective decreased by investment analysts at Truist Financial from $204.00 to $175.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would indicate a potential upside of 14.81% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Loop Capital lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays lifted their price objective on SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an “underweight” rating in a research note on Thursday, February 15th. Royal Bank of Canada lifted their price objective on 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. Robert W. Baird lifted their price objective on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and reduced their price objective for the company from $167.00 to $165.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $167.50.

SiteOne Landscape Supply Stock Performance

SITE stock traded up $2.06 during midday trading on Thursday, reaching $152.42. The stock had a trading volume of 481,180 shares, compared to its average volume of 350,666. The stock has a market cap of $6.89 billion, a PE ratio of 44.18 and a beta of 1.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 2.36. The firm has a fifty day simple moving average of $169.37 and a two-hundred day simple moving average of $156.71. SiteOne Landscape Supply has a 52-week low of $116.81 and a 52-week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results 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). The firm had revenue of $904.80 million during the quarter, compared to analysts’ expectations of $864.01 million. SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) EPS. As a group, equities research analysts anticipate that SiteOne Landscape Supply will post 3.94 EPS for the current year.

Insider Buying and Selling

In other news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.35, for a total transaction of $1,763,500.00. Following the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at approximately $101,340,761.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 sale, the chief financial officer now owns 15,467 shares of the company’s stock, valued at approximately $2,784,060. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,763,500.00. Following the sale, the chief executive officer now directly owns 574,657 shares in the company, valued at approximately $101,340,761.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,000 shares of company stock worth $3,924,500. Insiders own 2.70% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

Institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in shares of SiteOne Landscape Supply during the 3rd quarter valued at approximately $26,000. Operose Advisors LLC purchased a new stake in SiteOne Landscape Supply in the third quarter valued at approximately $28,000. Principal Securities Inc. purchased a new stake in SiteOne Landscape Supply in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC purchased a new stake in SiteOne Landscape Supply in the fourth quarter valued at approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in SiteOne Landscape Supply by 588.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock valued at $50,000 after purchasing 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.