SiteOne Landscape Supply (NYSE:SITE) Stock Rating Upgraded by Zacks Investment Research

SiteOne Landscape Supply (NYSE:SITEGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Zacks.com reports. The brokerage presently has a $148.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.55% from the company’s current price.

According to Zacks, “SiteOne Landscape Supply, Inc. is a wholesale distributor of landscape supplies primarily in the United States. It provides irrigation supplies; fertilizer and control products such as herbicides; landscape accessories; turf protection products; grass seed; turf care equipment and golf course maintenance supplies and nursery goods as well as hardscapes, including pavers, natural stones, and blocks; outdoor lighting and ice melt products, as well as related value-added consultative services. SiteOne Landscape Supply, Inc. is headquartered in Roswell, Georgia. “

A number of other research analysts have also weighed in on the company. Loop Capital reduced their target price on SiteOne Landscape Supply from $190.00 to $170.00 and set a “hold” rating for the company in a report on Thursday, April 7th. Barclays reduced their target price on SiteOne Landscape Supply from $200.00 to $191.00 in a report on Thursday, March 31st. Truist Financial reduced their target price on SiteOne Landscape Supply from $275.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, February 17th. StockNews.com assumed coverage on SiteOne Landscape Supply in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of SiteOne Landscape Supply in a report on Friday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $184.88.

Shares of SiteOne Landscape Supply stock opened at $132.67 on Friday. SiteOne Landscape Supply has a 52-week low of $125.11 and a 52-week high of $260.00. The stock’s 50-day simple moving average is $159.22 and its 200 day simple moving average is $196.29. The stock has a market capitalization of $5.95 billion, a P/E ratio of 23.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 2.20.

SiteOne Landscape Supply (NYSE:SITEGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.54. SiteOne Landscape Supply had a return on equity of 26.18% and a net margin of 7.25%. The business had revenue of $805.30 million for the quarter, compared to analysts’ expectations of $742.01 million. During the same period in the previous year, the business posted $0.16 EPS. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. Equities research analysts forecast that SiteOne Landscape Supply will post 5.6 EPS for the current fiscal year.

In other SiteOne Landscape Supply news, CEO Doug Black sold 17,365 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $175.78, for a total value of $3,052,419.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 52,193 shares of company stock valued at $8,426,900 in the last three months. 2.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SITE. Morgan Stanley lifted its position in SiteOne Landscape Supply by 24.9% in the second quarter. Morgan Stanley now owns 197,033 shares of the industrial products company’s stock valued at $33,351,000 after purchasing an additional 39,333 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in SiteOne Landscape Supply by 4.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,082 shares of the industrial products company’s stock valued at $415,000 after purchasing an additional 85 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in SiteOne Landscape Supply by 3.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,458 shares of the industrial products company’s stock valued at $889,000 after purchasing an additional 138 shares during the last quarter. Deutsche Bank AG lifted its position in SiteOne Landscape Supply by 363.6% in the third quarter. Deutsche Bank AG now owns 20,110 shares of the industrial products company’s stock valued at $4,012,000 after purchasing an additional 15,772 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in SiteOne Landscape Supply by 29.0% in the third quarter. PNC Financial Services Group Inc. now owns 2,861 shares of the industrial products company’s stock valued at $572,000 after purchasing an additional 643 shares during the last quarter.

SiteOne Landscape Supply Company Profile (Get Rating)

SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 135,000 stock keeping units, including irrigation supplies, which comprise controllers, valves, sprinkler heads, and irrigation pipes; 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; 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.

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