Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE – Get Free Report) have been given an average recommendation of “Hold” by the fourteen analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $135.2727.
Several brokerages have recently weighed in on SITE. Barclays reduced their price target on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Stifel Nicolaus restated a “hold” rating and set a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a report on Thursday, July 30th. UBS Group cut their price objective on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada cut their price objective on SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Finally, KeyCorp reduced their target price on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th.
Read Our Latest Analysis on SITE
SiteOne Landscape Supply Stock Performance
SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.22). SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $2.86 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that SiteOne Landscape Supply will post 3.93 EPS for the current year.
Insider Activity
In related news, CEO Doug Black purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average cost of $96.13 per share, for a total transaction of $480,650.00. Following the completion of the acquisition, the chief executive officer owned 13,000 shares in the company, valued at approximately $1,249,690. This trade represents a 62.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.
Institutional Investors Weigh In On SiteOne Landscape Supply
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in SiteOne Landscape Supply by 11,170.3% in the 2nd quarter. California State Teachers Retirement System now owns 5,861,568 shares of the industrial products company’s stock valued at $670,622,000 after buying an additional 5,809,559 shares during the period. Wasatch Advisors LP increased its position in shares of SiteOne Landscape Supply by 11.4% during the third quarter. Wasatch Advisors LP now owns 2,177,446 shares of the industrial products company’s stock worth $280,455,000 after acquiring an additional 222,959 shares during the period. Bamco Inc. NY bought a new stake in shares of SiteOne Landscape Supply during the second quarter valued at approximately $232,115,000. BlackRock Inc. bought a new stake in shares of SiteOne Landscape Supply during the second quarter valued at approximately $221,355,000. Finally, Capital World Investors raised its stake in shares of SiteOne Landscape Supply by 37.9% during the fourth quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock valued at $174,675,000 after acquiring an additional 385,666 shares in 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.
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