SiteOne Landscape Supply (NYSE:SITE – Get Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
Several other analysts also recently issued reports on the company. Robert W. Baird lifted their price target on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group began coverage on SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price objective for the company. Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $175.00 in a report on Friday, December 6th. Finally, Barclays upped their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $156.44.
Check Out Our Latest Stock Analysis on SITE
SiteOne Landscape Supply Stock Performance
SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that SiteOne Landscape Supply will post 2.94 earnings per share for the current year.
Insider Buying and Selling at SiteOne Landscape Supply
In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the transaction, the executive vice president now directly owns 12,942 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of SiteOne Landscape Supply by 90.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. increased its holdings in SiteOne Landscape Supply by 287.7% during the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 187 shares in the last quarter. Trust Co. of Vermont increased its holdings in SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 250 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of SiteOne Landscape Supply in the third quarter worth approximately $49,000. Finally, Quarry LP bought a new position in shares of SiteOne Landscape Supply in the second quarter valued at approximately $61,000.
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.
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