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

SiteOne Landscape Supply, Inc. (NYSE:SITE) has received an average rating of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $150.10.

SITE has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their target price on SiteOne Landscape Supply from $140.00 to $134.00 and set a “hold” rating for the company in a report on Tuesday. Zacks Research upgraded shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Barclays set a $134.00 price objective on shares of SiteOne Landscape Supply and gave the company an “equal weight” rating in a research note on Monday, December 8th. Bank of America assumed coverage on shares of SiteOne Landscape Supply in a research note on Thursday. They issued a “buy” rating and a $147.00 target price on the stock. Finally, Royal Bank Of Canada raised their price target on shares of SiteOne Landscape Supply from $143.00 to $151.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 59 North Capital Management LP bought a new position in shares of SiteOne Landscape Supply in the 3rd quarter worth $214,417,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of SiteOne Landscape Supply by 12.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company’s stock worth $738,309,000 after acquiring an additional 660,081 shares during the last quarter. Cartenna Capital LP purchased a new position in SiteOne Landscape Supply in the third quarter worth $63,756,000. Amundi bought a new position in SiteOne Landscape Supply in the third quarter valued at $59,763,000. Finally, AQR Capital Management LLC increased its stake in SiteOne Landscape Supply by 743.5% in the second quarter. AQR Capital Management LLC now owns 441,192 shares of the industrial products company’s stock valued at $52,440,000 after acquiring an additional 388,890 shares during the last quarter.

SiteOne Landscape Supply Trading Up 0.7%

Shares of SITE opened at $128.54 on Friday. The firm has a market cap of $5.73 billion, a P/E ratio of 41.73, a price-to-earnings-growth ratio of 2.07 and a beta of 1.60. SiteOne Landscape Supply has a fifty-two week low of $101.25 and a fifty-two week high of $154.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.14 and a current ratio of 2.49. The business has a 50-day moving average of $127.25 and a 200 day moving average of $130.01.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.09. SiteOne Landscape Supply had a net margin of 2.98% and a return on equity of 8.62%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that SiteOne Landscape Supply will post 3.61 EPS for the current year.

About SiteOne Landscape Supply

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.