Truist Financial Cuts SiteOne Landscape Supply (NYSE:SITE) Price Target to $145.00

SiteOne Landscape Supply (NYSE:SITE) had its price objective lowered by Truist Financial from $165.00 to $145.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other analysts also recently weighed in on the company. Loop Capital reduced their target price on SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating for the company in a report on Friday, April 4th. Deutsche Bank Aktiengesellschaft initiated coverage on SiteOne Landscape Supply in a report on Tuesday, April 1st. They issued a “hold” rating and a $135.00 price objective for the company. Royal Bank of Canada lifted their target price on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, UBS Group lowered their price objective on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $145.70.

SiteOne Landscape Supply Stock Performance

Shares of 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 52-week low of $101.25 and a 52-week high of $161.25. The stock has a 50 day moving average price of $118.90 and a 200 day moving average price of $133.57. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 45.34 and a beta of 1.62.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $939.40 million during the quarter, compared to analysts’ expectations of $933.90 million. During the same period last year, the business earned ($0.43) earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that SiteOne Landscape Supply will post 3.61 EPS for the current fiscal year.

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of hedge funds have recently added to or reduced their stakes in SITE. Barclays PLC lifted its holdings in shares of SiteOne Landscape Supply by 71.2% in the 3rd quarter. Barclays PLC now owns 48,398 shares of the industrial products company’s stock valued at $7,304,000 after buying an additional 20,134 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in SiteOne Landscape Supply in the third quarter valued at $71,000. Tidal Investments LLC boosted its position in shares of SiteOne Landscape Supply by 1.5% during the 3rd quarter. Tidal Investments LLC now owns 5,166 shares of the industrial products company’s stock worth $780,000 after purchasing an additional 77 shares in the last quarter. Synovus Financial Corp grew its stake in shares of SiteOne Landscape Supply by 12.0% during the 3rd quarter. Synovus Financial Corp now owns 1,954 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 209 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of SiteOne Landscape Supply in the 3rd quarter valued at about $1,099,000.

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.