SiteOne Landscape Supply, Inc. (NYSE:SITE) Given Consensus Recommendation of “Hold” by Brokerages

SiteOne Landscape Supply, Inc. (NYSE:SITE) has earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $172.88.

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Loop Capital downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Truist Financial boosted their price objective on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Robert W. Baird boosted their price objective on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, Barclays boosted their price objective on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an “underweight” rating in a research report on Thursday, February 15th.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the transaction, the chief financial officer now owns 15,467 shares in the company, valued at approximately $2,784,060. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Doug Black sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total value of $1,621,000.00. Following the completion of the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at $93,151,899.70. 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 3,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the transaction, the chief financial officer now owns 15,467 shares of the company’s stock, valued at $2,784,060. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,000 shares of company stock worth $3,924,500. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SITE. Wasatch Advisors LP boosted its holdings in shares of SiteOne Landscape Supply by 47.8% in the first quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock valued at $172,211,000 after acquiring an additional 319,071 shares in the last quarter. Jackson Square Partners LLC lifted its stake in SiteOne Landscape Supply by 25.6% during the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock valued at $131,588,000 after purchasing an additional 165,067 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in SiteOne Landscape Supply by 100.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 255,922 shares of the industrial products company’s stock valued at $41,587,000 after purchasing an additional 128,076 shares during the last quarter. Jennison Associates LLC acquired a new stake in SiteOne Landscape Supply during the third quarter valued at approximately $17,835,000. Finally, Allianz Asset Management GmbH lifted its stake in SiteOne Landscape Supply by 14.7% during the fourth quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock valued at $129,724,000 after purchasing an additional 102,207 shares during the last quarter.

SiteOne Landscape Supply Stock Performance

Shares of SiteOne Landscape Supply stock opened at $162.54 on Monday. The firm has a market cap of $7.35 billion, a PE ratio of 43.00 and a beta of 1.54. The firm’s 50-day simple moving average is $170.58 and its 200-day simple moving average is $156.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.43. SiteOne Landscape Supply has a 1 year low of $116.81 and a 1 year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. The business had revenue of $965.00 million for the quarter, compared to analyst estimates of $942.21 million. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.02) EPS. Equities analysts forecast that SiteOne Landscape Supply will post 4.04 earnings per share for the current fiscal year.

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 irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; 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 and cultivars; 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.