SiteOne Landscape Supply (NYSE:SITE) Downgraded by Zacks Investment Research

SiteOne Landscape Supply (NYSE:SITEGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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 analysts have also recently weighed in on SITE. William Blair reaffirmed an “outperform” rating on shares of SiteOne Landscape Supply in a research report on Friday, March 11th. UBS Group raised SiteOne Landscape Supply from a “sell” rating to a “neutral” rating and cut their target price for the stock from $170.00 to $165.00 in a research note on Monday, March 28th. They noted that the move was a valuation call. Robert W. Baird cut their target price on SiteOne Landscape Supply from $232.00 to $171.00 in a research note on Thursday, May 5th. Loop Capital cut their target price on SiteOne Landscape Supply from $190.00 to $170.00 and set a “hold” rating for the company in a research note on Thursday, April 7th. Finally, Truist Financial cut their target price on SiteOne Landscape Supply from $275.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, February 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of “Hold” and a consensus price target of $184.88.

NYSE SITE traded down $1.53 on Tuesday, hitting $123.51. 6,214 shares of the stock were exchanged, compared to its average volume of 369,778. The company has a quick ratio of 0.96, a current ratio of 2.32 and a debt-to-equity ratio of 0.41. SiteOne Landscape Supply has a fifty-two week low of $124.56 and a fifty-two week high of $260.00. The company has a market cap of $5.54 billion, a PE ratio of 21.47 and a beta of 1.32. The company has a 50-day moving average price of $158.33 and a 200-day moving average price of $195.32.

SiteOne Landscape Supply (NYSE:SITEGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.54. SiteOne Landscape Supply had a net margin of 7.25% and a return on equity of 25.59%. The business had revenue of $805.30 million during the quarter, compared to the consensus estimate of $742.01 million. During the same quarter in the previous year, the firm earned $0.16 EPS. The company’s revenue was up 23.9% compared to the same quarter last year. As a group, equities research analysts predict that SiteOne Landscape Supply will post 5.71 EPS for the current fiscal year.

In other SiteOne Landscape Supply news, CEO Doug Black sold 17,365 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $175.78, for a total value of $3,052,419.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 52,193 shares of company stock valued at $8,426,900 over the last three months. Corporate insiders own 2.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund boosted its stake in shares of SiteOne Landscape Supply by 26.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 7,584 shares of the industrial products company’s stock valued at $1,837,000 after buying an additional 1,583 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of SiteOne Landscape Supply by 79.4% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 34,340 shares of the industrial products company’s stock valued at $6,850,000 after acquiring an additional 15,194 shares in the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of SiteOne Landscape Supply during the 4th quarter valued at approximately $238,000. State of New Jersey Common Pension Fund D raised its position in shares of SiteOne Landscape Supply by 1.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 25,953 shares of the industrial products company’s stock valued at $6,288,000 after acquiring an additional 468 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of SiteOne Landscape Supply by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 527,278 shares of the industrial products company’s stock valued at $105,176,000 after acquiring an additional 2,624 shares in the last quarter.

About SiteOne Landscape Supply (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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