Brokerages Set SiteOne Landscape Supply, Inc. (NYSE:SITE) Target Price at $156.44

SiteOne Landscape Supply, Inc. (NYSE:SITE) has earned a consensus rating of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $156.44.

SITE has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group began coverage on SiteOne Landscape Supply in a research report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price objective for the company. Robert W. Baird lifted their target price on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays upped their price target on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $175.00 in a research report on Friday, December 6th.

Insider Activity

In related news, EVP Joseph Ketter sold 6,500 shares of SiteOne Landscape Supply stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the transaction, the executive vice president now owns 12,942 shares in the company, valued at approximately $1,840,352.40. The trade was a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Hedge funds have recently added to or reduced their stakes in the business. Cetera Advisors LLC purchased a new stake in shares of SiteOne Landscape Supply during the first quarter worth $708,000. Cetera Investment Advisers increased its holdings in SiteOne Landscape Supply by 143.8% during the 1st quarter. Cetera Investment Advisers now owns 12,281 shares of the industrial products company’s stock worth $2,144,000 after purchasing an additional 7,244 shares during the period. Algert Global LLC raised its position in SiteOne Landscape Supply by 375.4% in the 3rd quarter. Algert Global LLC now owns 29,506 shares of the industrial products company’s stock valued at $4,453,000 after purchasing an additional 23,300 shares in the last quarter. Holocene Advisors LP raised its position in SiteOne Landscape Supply by 38.2% in the 3rd quarter. Holocene Advisors LP now owns 51,625 shares of the industrial products company’s stock valued at $7,791,000 after purchasing an additional 14,269 shares in the last quarter. Finally, Swedbank AB boosted its stake in shares of SiteOne Landscape Supply by 6.3% in the 2nd quarter. Swedbank AB now owns 102,000 shares of the industrial products company’s stock valued at $12,384,000 after buying an additional 6,000 shares during the period.

SiteOne Landscape Supply Stock Down 1.4 %

Shares of SITE opened at $145.09 on Tuesday. SiteOne Landscape Supply has a 52-week low of $114.60 and a 52-week high of $188.01. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $146.26 and a two-hundred day simple moving average of $140.12. The company has a market capitalization of $6.55 billion, a PE ratio of 46.95 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that SiteOne Landscape Supply will post 3.41 EPS for the current year.

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.