SiteOne Landscape Supply (NYSE:SITE) Price Target Raised to $122.00

SiteOne Landscape Supply (NYSE:SITE) had its price objective raised by UBS Group from $110.00 to $122.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $114.00 target price on shares of SiteOne Landscape Supply in a research note on Wednesday. Stifel Nicolaus decreased their price target on shares of SiteOne Landscape Supply from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, October 26th. Robert W. Baird lowered their price target on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. William Blair reissued a “market perform” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $127.00 to $91.00 in a research note on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.00.

SiteOne Landscape Supply Stock Down 0.1%

SITE opened at $110.59 on Thursday. SiteOne Landscape Supply has a 1 year low of $82.00 and a 1 year high of $168.56. The firm has a 50 day moving average price of $94.63 and a 200 day moving average price of $116.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.01 and a current ratio of 2.41. The company has a market cap of $4.77 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.95 and a beta of 1.38.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.46. SiteOne Landscape Supply had a net margin of 3.49% and a return on equity of 10.06%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company posted $1.31 earnings per share. SiteOne Landscape Supply’s revenue was up 2.6% compared to the same quarter last year. Sell-side analysts expect that SiteOne Landscape Supply will post 3.74 earnings per share for the current year.

Insider Activity at SiteOne Landscape Supply

In other news, CEO Doug Black bought 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the purchase, the chief executive officer owned 8,000 shares of the company’s stock, valued at $816,240. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in SiteOne Landscape Supply during the 2nd quarter worth $6,977,000. Legal & General Group Plc bought a new stake in shares of SiteOne Landscape Supply in the 2nd quarter worth about $4,281,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of SiteOne Landscape Supply in the 2nd quarter valued at about $3,059,000. The Manufacturers Life Insurance Company acquired a new stake in shares of SiteOne Landscape Supply in the 2nd quarter valued at about $1,513,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of SiteOne Landscape Supply in the 2nd quarter valued at about $1,503,000.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc (NYSE: SITE) is a wholesale distributor of landscape and outdoor living products in the United States and Canada. The company serves landscape professionals, irrigation contractors, golf course and sports-turf managers, nursery and greenhouse operators, and other customers in the green industry.

Its product offerings include irrigation and water-management systems, landscape lighting, nursery and greenhouse supplies, fertilizers and other agronomic products, turf-care equipment, hardscape materials, outdoor living products, and pest-control supplies.