SiteOne Landscape Supply (NYSE:SITE) Rating Increased to Hold at StockNews.com

SiteOne Landscape Supply (NYSE:SITE – Get Rating) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of SiteOne Landscape Supply from $119.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 16th. Truist Financial lifted their price objective on shares of SiteOne Landscape Supply from $127.00 to $157.00 and gave the stock a “hold” rating in a research report on Thursday, February 16th. TheStreet upgraded shares of SiteOne Landscape Supply from a “c+” rating to a “b-” rating in a research report on Tuesday, January 24th. Jefferies Financial Group cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $170.00 price objective on the stock. in a research report on Thursday, February 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of SiteOne Landscape Supply from $126.00 to $163.00 in a research report on Thursday, February 16th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of “Hold” and an average target price of $151.70.

SiteOne Landscape Supply Price Performance

Shares of NYSE:SITE opened at $148.58 on Friday. SiteOne Landscape Supply has a 12 month low of $97.36 and a 12 month high of $184.19. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 27.77 and a beta of 1.44. The stock’s 50 day moving average price is $139.81 and its 200 day moving average price is $125.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 0.99.

SiteOne Landscape Supply (NYSE:SITE – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.15). The company had revenue of $890.00 million during the quarter, compared to the consensus estimate of $895.05 million. SiteOne Landscape Supply had a net margin of 6.11% and a return on equity of 19.75%. SiteOne Landscape Supply’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. Equities research analysts anticipate that SiteOne Landscape Supply will post 4.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several institutional investors and hedge funds have recently modified their holdings of SITE. Price T Rowe Associates Inc. MD lifted its stake in shares of SiteOne Landscape Supply by 24.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,736,347 shares of the industrial products company’s stock valued at $681,880,000 after purchasing an additional 1,120,359 shares during the last quarter. BlackRock Inc. lifted its position in SiteOne Landscape Supply by 17.4% during the 1st quarter. BlackRock Inc. now owns 3,394,331 shares of the industrial products company’s stock worth $548,828,000 after acquiring an additional 503,490 shares during the last quarter. Jackson Square Partners LLC boosted its holdings in SiteOne Landscape Supply by 69.7% during the fourth quarter. Jackson Square Partners LLC now owns 960,849 shares of the industrial products company’s stock valued at $112,727,000 after acquiring an additional 394,722 shares during the period. Sands Capital Management LLC acquired a new stake in shares of SiteOne Landscape Supply in the second quarter valued at about $34,351,000. Finally, Raymond James & Associates grew its position in shares of SiteOne Landscape Supply by 173.2% in the third quarter. Raymond James & Associates now owns 287,455 shares of the industrial products company’s stock valued at $29,936,000 after purchasing an additional 182,230 shares during the last quarter.

About SiteOne Landscape Supply

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SiteOne Landscape Supply, Inc engages in the distribution of landscape supplies and residential. Its products include hardscapes, landscape accessories, nursery goods, outdoor lighting, and ice melt products to green industry professionals. The company was founded in 2001 and is headquartered in Roswell, GA.