Stifel Nicolaus Cuts SiteOne Landscape Supply (NYSE:SITE) Price Target to $134.00

SiteOne Landscape Supply (NYSE:SITE) had its price target reduced by equities research analysts at Stifel Nicolaus from $140.00 to $134.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 5.48% from the company’s current price.

SITE has been the topic of a number of other reports. Zacks Research raised shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. William Blair reissued a “market perform” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 15th. The Goldman Sachs Group dropped their price objective on shares of SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Barclays set a $134.00 target price on shares of SiteOne Landscape Supply and gave the company an “equal weight” rating in a report on Monday, December 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, SiteOne Landscape Supply presently has an average rating of “Hold” and a consensus target price of $150.44.

SiteOne Landscape Supply Stock Performance

SITE traded down $1.05 on Tuesday, reaching $127.04. The company had a trading volume of 105,035 shares, compared to its average volume of 543,850. 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 1 year low of $101.25 and a 1 year high of $154.00. The stock has a market capitalization of $5.66 billion, a PE ratio of 41.34, a P/E/G ratio of 2.11 and a beta of 1.60. The stock has a 50-day moving average price of $126.64 and a 200-day moving average price of $129.87.

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 business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. SiteOne Landscape Supply had a return on equity of 8.62% and a net margin of 2.98%.The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 earnings per share. As a group, research analysts forecast that SiteOne Landscape Supply will post 3.61 EPS for the current fiscal year.

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of hedge funds have recently added to or reduced their stakes in SITE. Allworth Financial LP boosted its stake in shares of SiteOne Landscape Supply by 61.2% in the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. Brooklyn Investment Group purchased a new position in SiteOne Landscape Supply in the first quarter worth $32,000. HM Payson & Co. lifted its holdings in SiteOne Landscape Supply by 32.2% in the third quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 97 shares during the period. NewEdge Advisors LLC boosted its position 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 purchasing an additional 107 shares in the last quarter. Finally, Danske Bank A S acquired a new position in shares of SiteOne Landscape Supply during the 3rd quarter worth $52,000.

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.