Stifel Nicolaus Issues Positive Forecast for SiteOne Landscape Supply (NYSE:SITE) Stock Price

SiteOne Landscape Supply (NYSE:SITE) had its price target lifted by Stifel Nicolaus from $155.00 to $157.00 in a research note published on Monday, Marketbeat.com reports. The firm currently has a hold rating on the industrial products company’s stock.

A number of other brokerages also recently commented on SITE. Truist Financial upped their price objective on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada upped their price objective on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Barclays upped their price objective on shares of SiteOne Landscape Supply from $134.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, January 21st. Finally, Bank of America cut their price target on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating for the company in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $163.67.

SiteOne Landscape Supply Stock Down 1.3%

Shares of SiteOne Landscape Supply stock opened at $143.17 on Monday. The company has a market cap of $6.34 billion, a P/E ratio of 42.61, a PEG ratio of 1.80 and a beta of 1.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.20 and a current ratio of 2.47. SiteOne Landscape Supply has a one year low of $108.11 and a one year high of $168.56. The firm has a fifty day moving average of $137.54 and a two-hundred day moving average of $134.86.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, February 11th. The industrial products company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.09. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. SiteOne Landscape Supply had a net margin of 3.23% and a return on equity of 9.28%. SiteOne Landscape Supply’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.48) EPS. On average, analysts forecast that SiteOne Landscape Supply will post 4.31 earnings per share for the current year.

Insider Activity

In other news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $158.01, for a total value of $278,887.65. Following the completion of the transaction, the executive vice president owned 2,911 shares in the company, valued at $459,967.11. This trade represents a 37.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of large investors have recently made changes to their positions in SITE. HB Wealth Management LLC grew its stake in SiteOne Landscape Supply by 83.4% in the 1st quarter. HB Wealth Management LLC now owns 5,301 shares of the industrial products company’s stock valued at $706,000 after acquiring an additional 2,410 shares during the last quarter. Elevation Point Wealth Partners LLC grew its stake in SiteOne Landscape Supply by 36.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,955 shares of the industrial products company’s stock valued at $393,000 after acquiring an additional 797 shares during the last quarter. Mitchell & Pahl Private Wealth LLC grew its stake in SiteOne Landscape Supply by 3.0% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 6,091 shares of the industrial products company’s stock valued at $811,000 after acquiring an additional 176 shares during the last quarter. Root Financial Partners LLC grew its stake in SiteOne Landscape Supply by 480.7% in the 1st quarter. Root Financial Partners LLC now owns 691 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 572 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in SiteOne Landscape Supply by 2.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company’s stock valued at $147,313,000 after acquiring an additional 31,684 shares during the last quarter.

SiteOne Landscape Supply Company Profile

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.