SiteOne Landscape Supply (NYSE:SITE – Get Free Report) had its target price reduced by investment analysts at Royal Bank of Canada from $141.00 to $131.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 2.51% from the stock’s previous close.
A number of other analysts have also recently commented on the stock. Stifel Nicolaus cut their price target on shares of SiteOne Landscape Supply from $185.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. UBS Group upgraded shares of SiteOne Landscape Supply from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $200.00 in a report on Tuesday, September 26th. Loop Capital upped their price objective on shares of SiteOne Landscape Supply from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Truist Financial reduced their target price on shares of SiteOne Landscape Supply from $187.00 to $158.00 and set a “buy” rating for the company in a research report on Friday. Finally, StockNews.com began coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 5th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $163.10.
SiteOne Landscape Supply Trading Up 0.1 %
SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.25). SiteOne Landscape Supply had a return on equity of 13.06% and a net margin of 4.16%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $1.60 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts forecast that SiteOne Landscape Supply will post 3.96 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Doug Black sold 7,960 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $145.12, for a total transaction of $1,155,155.20. Following the sale, the chief executive officer now owns 568,886 shares of the company’s stock, valued at approximately $82,556,736.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Doug Black sold 7,960 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $145.12, for a total transaction of $1,155,155.20. Following the sale, the chief executive officer now owns 568,886 shares of the company’s stock, valued at $82,556,736.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John T. Guthrie sold 1,028 shares of SiteOne Landscape Supply stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $164.47, for a total transaction of $169,075.16. Following the completion of the transaction, the chief financial officer now directly owns 15,050 shares of the company’s stock, valued at $2,475,273.50. The disclosure for this sale can be found here. Insiders have sold a total of 24,988 shares of company stock worth $3,851,830 in the last 90 days. 2.70% of the stock is owned by company insiders.
Institutional Trading of SiteOne Landscape Supply
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC bought a new position in SiteOne Landscape Supply during the third quarter valued at $26,000. Impact Partnership Wealth LLC bought a new position in SiteOne Landscape Supply during the 3rd quarter worth about $30,000. Pinebridge Investments L.P. bought a new stake in shares of SiteOne Landscape Supply in the 2nd quarter valued at about $36,000. Benjamin Edwards Inc. boosted its holdings in shares of SiteOne Landscape Supply by 81.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 218 shares of the industrial products company’s stock valued at $36,000 after buying an additional 98 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in SiteOne Landscape Supply in the 2nd quarter worth approximately $29,000.
About SiteOne Landscape Supply
SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 155,000 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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