Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) have been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $51.33.
A number of research firms have issued reports on SITE. Zacks Investment Research cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Deutsche Bank AG upped their price objective on shares of SiteOne Landscape Supply from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Johnson Rice started coverage on shares of SiteOne Landscape Supply in a research report on Monday, May 15th. They set an “accumulate” rating for the company. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $52.00 price objective on shares of SiteOne Landscape Supply in a research report on Monday, May 8th.
In related news, CEO Doug Black acquired 6,200 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was acquired at an average price of $50.76 per share, with a total value of $314,712.00. Following the completion of the transaction, the chief executive officer now owns 400,743 shares of the company’s stock, valued at $20,341,714.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SITE. Baillie Gifford & Co. bought a new position in shares of SiteOne Landscape Supply during the second quarter worth approximately $211,293,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of SiteOne Landscape Supply by 596.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,450,224 shares of the industrial products company’s stock worth $70,206,000 after buying an additional 1,241,912 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of SiteOne Landscape Supply by 224.3% in the second quarter. Alliancebernstein L.P. now owns 1,459,460 shares of the industrial products company’s stock worth $75,979,000 after buying an additional 1,009,392 shares in the last quarter. FMR LLC raised its position in shares of SiteOne Landscape Supply by 1,029.5% in the first quarter. FMR LLC now owns 519,548 shares of the industrial products company’s stock worth $25,151,000 after buying an additional 473,548 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of SiteOne Landscape Supply by 49.4% in the second quarter. Pictet Asset Management Ltd. now owns 1,274,605 shares of the industrial products company’s stock worth $67,784,000 after buying an additional 421,519 shares in the last quarter. 89.72% of the stock is owned by institutional investors and hedge funds.
Shares of SiteOne Landscape Supply (NYSE SITE) traded down 1.13% during mid-day trading on Thursday, reaching $51.72. The company had a trading volume of 200,000 shares. The company’s market capitalization is $2.05 billion. The company’s 50-day moving average price is $52.38 and its 200-day moving average price is $47.20. SiteOne Landscape Supply has a 52-week low of $26.60 and a 52-week high of $53.87.
SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.11 by $0.04. SiteOne Landscape Supply had a net margin of 1.55% and a return on equity of 22.88%. The firm had revenue of $608.60 million for the quarter, compared to the consensus estimate of $607.94 million. During the same quarter last year, the company earned ($3.18) earnings per share. The firm’s revenue was up 18.5% on a year-over-year basis. On average, analysts forecast that SiteOne Landscape Supply will post $1.40 earnings per share for the current fiscal year.
About SiteOne Landscape Supply
SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.
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