Royal Bank of Canada Lowers SiteOne Landscape Supply (NYSE:SITE) Price Target to $130.00

SiteOne Landscape Supply (NYSE:SITE) had its target price reduced by investment analysts at Royal Bank of Canada from $136.00 to $130.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 6.59% from the company’s current price.

Other analysts have also recently issued reports about the stock. UBS Group lowered their target price on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus dropped their target price on SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Loop Capital decreased their price target on SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Robert W. Baird dropped their price objective on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of SiteOne Landscape Supply in a research report on Tuesday, April 1st. They issued a “hold” rating and a $135.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, SiteOne Landscape Supply presently has an average rating of “Hold” and an average target price of $145.70.

SiteOne Landscape Supply Stock Performance

NYSE SITE opened at $121.96 on Thursday. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply has a fifty-two week low of $101.25 and a fifty-two week high of $161.25. The business has a fifty day moving average of $118.90 and a 200-day moving average of $133.66. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 45.34 and a beta of 1.62.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. The firm had revenue of $939.40 million during the quarter, compared to analyst estimates of $933.90 million. During the same period in the previous year, the firm posted ($0.43) EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts predict that SiteOne Landscape Supply will post 3.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. purchased a new stake in shares of SiteOne Landscape Supply during the 1st quarter valued at about $25,000. Golden State Wealth Management LLC grew its position in SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 139 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of SiteOne Landscape Supply by 657.9% during the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 250 shares during the period. Tortoise Investment Management LLC boosted its stake in shares of SiteOne Landscape Supply by 78.9% in the fourth quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 131 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in SiteOne Landscape Supply during the 4th quarter valued at $40,000.

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 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.