SiteOne Landscape Supply (NYSE:SITE) Upgraded by Stifel Nicolaus to “Buy”

Stifel Nicolaus upgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a buy rating in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have $165.00 price target on the industrial products company’s stock, down from their previous price target of $167.00.

Other equities analysts have also issued reports about the company. Robert W. Baird upped their target price on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Royal Bank of Canada upped their price objective on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a sector perform rating in a report on Thursday, February 15th. Truist Financial lifted their price objective on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a buy rating in a report on Thursday, February 15th. Barclays upped their target price on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an underweight rating in a report on Thursday, February 15th. Finally, Loop Capital lowered SiteOne Landscape Supply from a buy rating to a hold rating in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $167.50.

SiteOne Landscape Supply Trading Up 1.4 %

SITE opened at $152.42 on Thursday. The company has a fifty day moving average price of $169.37 and a two-hundred day moving average price of $156.72. SiteOne Landscape Supply has a 1-year low of $116.81 and a 1-year high of $188.01. The company has a market cap of $6.89 billion, a P/E ratio of 44.18 and a beta of 1.53. The company has a current ratio of 2.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The firm had revenue of $904.80 million during the quarter, compared to analyst estimates of $864.01 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts predict that SiteOne Landscape Supply will post 4.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the transaction, the chief financial officer now owns 15,467 shares of the company’s stock, valued at $2,784,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of SiteOne Landscape Supply stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the sale, the chief financial officer now owns 15,467 shares of the company’s stock, valued at $2,784,060. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.35, for a total transaction of $1,763,500.00. Following the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at approximately $101,340,761.95. The disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock valued at $3,924,500 in the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several large investors have recently added to or reduced their stakes in SITE. Jennison Associates LLC increased its stake in shares of SiteOne Landscape Supply by 46.3% in the first quarter. Jennison Associates LLC now owns 177,793 shares of the industrial products company’s stock worth $31,034,000 after purchasing an additional 56,234 shares in the last quarter. FORA Capital LLC bought a new stake in SiteOne Landscape Supply during the 1st quarter valued at $209,000. Fidelis Capital Partners LLC purchased a new stake in shares of SiteOne Landscape Supply during the first quarter worth $133,000. Janney Montgomery Scott LLC boosted its holdings in shares of SiteOne Landscape Supply by 3.1% in the first quarter. Janney Montgomery Scott LLC now owns 35,785 shares of the industrial products company’s stock worth $6,246,000 after acquiring an additional 1,084 shares during the period. Finally, Norden Group LLC bought a new stake in shares of SiteOne Landscape Supply during the 1st quarter valued at $283,000.

SiteOne Landscape Supply Company Profile

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.