SiteOne Landscape Supply (NYSE:SITE) Price Target Cut to $129.00 by Analysts at Barclays

SiteOne Landscape Supply (NYSE:SITEFree Report) had its price target trimmed by Barclays from $133.00 to $129.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an underweight rating on the industrial products company’s stock.

SITE has been the topic of a number of other reports. Truist Financial lowered their price target on shares of SiteOne Landscape Supply from $204.00 to $175.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus raised shares of SiteOne Landscape Supply from a hold rating to a buy rating and decreased their target price for the stock from $167.00 to $165.00 in a report on Thursday, May 2nd. Robert W. Baird cut their price target on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an outperform rating for the company in a report on Wednesday. Finally, Royal Bank of Canada upped their price target on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a sector perform rating in a report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $165.13.

Check Out Our Latest Stock Report on SITE

SiteOne Landscape Supply Stock Down 0.4 %

SiteOne Landscape Supply stock opened at $135.98 on Wednesday. The firm has a 50 day simple moving average of $159.28 and a 200 day simple moving average of $160.03. The company has a current ratio of 2.36, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. SiteOne Landscape Supply has a 1-year low of $116.81 and a 1-year high of $188.01. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 39.41 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITEGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.22). The company had revenue of $904.80 million during the quarter, compared to analysts’ expectations of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. SiteOne Landscape Supply’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. On average, analysts predict that SiteOne Landscape Supply will post 4.02 earnings per share for the current year.

Insider Activity

In related news, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total value of $1,763,500.00. Following the completion of the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at $101,340,761.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SiteOne Landscape Supply news, 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 transaction, the chief financial officer now directly owns 15,467 shares in the company, valued at $2,784,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.35, for a total transaction of $1,763,500.00. Following the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at $101,340,761.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,000 shares of company stock worth $3,924,500. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several institutional investors and hedge funds have recently made changes to their positions in SITE. Operose Advisors LLC bought a new position in shares of SiteOne Landscape Supply during the third quarter valued at about $28,000. Toronto Dominion Bank purchased a new stake in SiteOne Landscape Supply during the 1st quarter valued at about $29,000. Principal Securities Inc. bought a new position in SiteOne Landscape Supply during the 4th quarter worth approximately $31,000. GAMMA Investing LLC purchased a new position in SiteOne Landscape Supply in the 4th quarter worth approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in SiteOne Landscape Supply by 588.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 247 shares during the last quarter.

About SiteOne Landscape Supply

(Get Free Report)

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.

Further Reading

Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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