SiteOne Landscape Supply (NYSE:SITE) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a strong sell rating in a report issued on Wednesday,Zacks.com reports.

SITE has been the subject of several other research reports. Royal Bank Of Canada upgraded shares of SiteOne Landscape Supply from a “sector perform” rating to an “outperform” rating and set a $151.00 target price for the company in a report on Thursday, January 8th. Barclays set a $134.00 target price on SiteOne Landscape Supply and gave the stock an “equal weight” rating in a research note on Monday, December 8th. Stifel Nicolaus lowered 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, December 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday. Finally, The Goldman Sachs Group cut their price target on shares of SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and an average target price of $150.10.

SiteOne Landscape Supply Trading Down 0.6%

Shares of SITE stock opened at $147.62 on Wednesday. SiteOne Landscape Supply has a 1-year low of $101.25 and a 1-year high of $154.00. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 1.57 and a beta of 1.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.49 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $133.05 and a 200-day simple moving average of $132.41.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.22 by $0.09. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. SiteOne Landscape Supply had a return on equity of 8.62% and a net margin of 2.98%.The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. On average, equities research analysts expect that SiteOne Landscape Supply will post 3.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas raised its stake in SiteOne Landscape Supply by 16.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,308 shares of the industrial products company’s stock valued at $1,247,000 after acquiring an additional 1,422 shares during the period. Advantage Alpha Capital Partners LP boosted its position in SiteOne Landscape Supply by 6.2% during the second quarter. Advantage Alpha Capital Partners LP now owns 42,756 shares of the industrial products company’s stock worth $5,171,000 after purchasing an additional 2,501 shares during the period. American Century Companies Inc. increased its holdings in shares of SiteOne Landscape Supply by 20.6% in the second quarter. American Century Companies Inc. now owns 629,029 shares of the industrial products company’s stock valued at $76,075,000 after purchasing an additional 107,465 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of SiteOne Landscape Supply in the second quarter valued at $989,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of SiteOne Landscape Supply by 37.8% in the second quarter. Rockefeller Capital Management L.P. now owns 79,564 shares of the industrial products company’s stock valued at $9,622,000 after purchasing an additional 21,810 shares during the period.

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.