Analysts Set SiteOne Landscape Supply Inc (SITE) Price Target at $70.50

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SiteOne Landscape Supply Inc (NYSE:SITE) has received an average recommendation of “Hold” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $70.50.

SITE has been the subject of several recent research reports. UBS Group set a $58.00 price objective on shares of SiteOne Landscape Supply and gave the company a “hold” rating in a research report on Wednesday, February 20th. Royal Bank of Canada downgraded shares of SiteOne Landscape Supply from an “outperform” rating to a “sector perform” rating and set a $59.00 price objective for the company. in a research report on Thursday, January 31st. ValuEngine downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. SunTrust Banks downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, Zacks Investment Research downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research report on Wednesday, January 9th.

Shares of NYSE:SITE opened at $54.15 on Tuesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.71 and a quick ratio of 1.25. SiteOne Landscape Supply has a 52-week low of $45.32 and a 52-week high of $95.49. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 31.30 and a beta of 1.03.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Tuesday, February 19th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 27.46%. The company had revenue of $474.60 million during the quarter, compared to the consensus estimate of $473.18 million. During the same quarter last year, the company earned $0.09 earnings per share. SiteOne Landscape Supply’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, analysts anticipate that SiteOne Landscape Supply will post 1.9 EPS for the current fiscal year.

In other news, CFO John T. Guthrie sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $56.07, for a total transaction of $560,700.00. Following the completion of the sale, the chief financial officer now owns 38,186 shares of the company’s stock, valued at $2,141,089.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Pascal Convers sold 9,750 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $55.86, for a total transaction of $544,635.00. Following the sale, the executive vice president now directly owns 9,750 shares of the company’s stock, valued at approximately $544,635. The disclosure for this sale can be found here. Insiders have sold 54,850 shares of company stock valued at $3,033,075 in the last three months. Corporate insiders own 4.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in SiteOne Landscape Supply by 9.7% in the second quarter. Bank of New York Mellon Corp now owns 309,938 shares of the industrial products company’s stock worth $26,024,000 after purchasing an additional 27,380 shares during the period. Comerica Bank boosted its holdings in SiteOne Landscape Supply by 4.9% in the third quarter. Comerica Bank now owns 17,379 shares of the industrial products company’s stock worth $1,183,000 after purchasing an additional 808 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in SiteOne Landscape Supply by 7.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,580 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 1,014 shares during the period. JPMorgan Chase & Co. boosted its holdings in SiteOne Landscape Supply by 106.3% in the third quarter. JPMorgan Chase & Co. now owns 384,031 shares of the industrial products company’s stock worth $28,932,000 after purchasing an additional 197,886 shares during the period. Finally, Granite Investment Partners LLC boosted its holdings in SiteOne Landscape Supply by 4.1% in the third quarter. Granite Investment Partners LLC now owns 201,727 shares of the industrial products company’s stock worth $15,198,000 after purchasing an additional 7,892 shares during the period.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.

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Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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