Robert W. Baird Has Lowered Expectations for SiteOne Landscape Supply (NYSE:SITE) Stock Price

SiteOne Landscape Supply (NYSE:SITE) had its target price lowered by equities researchers at Robert W. Baird from $160.00 to $155.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price indicates a potential upside of 53.17% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. UBS Group restated a “neutral” rating on shares of SiteOne Landscape Supply in a report on Thursday, June 25th. Bank of America lowered their price target on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Zacks Research downgraded SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. KeyCorp started coverage on SiteOne Landscape Supply in a research note on Monday, July 13th. They issued an “overweight” rating and a $145.00 target price for the company. Finally, Stifel Nicolaus reduced their target price on SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $156.18.

SiteOne Landscape Supply Stock Up 1.3%

SITE opened at $101.19 on Tuesday. The business has a 50 day moving average of $107.94 and a 200-day moving average of $127.72. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 1.35 and a beta of 1.34. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply has a 1-year low of $98.17 and a 1-year high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.27). SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The company had revenue of $940.10 million for the quarter, compared to analyst estimates of $982.27 million. During the same quarter in the previous year, the company earned ($0.61) earnings per share. SiteOne Landscape Supply’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that SiteOne Landscape Supply will post 4.02 earnings per share for the current year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 562 shares of the company’s 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 sale, the director directly owned 11,267 shares in the company, valued at $1,267,762.84. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently made changes to their positions in the company. Basecamp Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 127 shares during the last quarter. Whittier Trust Co. lifted its holdings in SiteOne Landscape Supply by 72.7% during the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. Rothschild Investment LLC lifted its holdings in SiteOne Landscape Supply by 1,521.4% during the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 213 shares during the last quarter. IFP Advisors Inc boosted its position in SiteOne Landscape Supply by 106.8% in the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after buying an additional 158 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in SiteOne Landscape Supply during the fourth quarter worth about $42,000.

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.