SiteOne Landscape Supply (NYSE:SITE) Given New $165.00 Price Target at Truist Financial

SiteOne Landscape Supply (NYSE:SITE) had its price objective increased by investment analysts at Truist Financial from $158.00 to $165.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would suggest a potential upside of 16.17% from the company’s current price.

Several other research firms also recently commented on SITE. UBS Group dropped their price objective on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Barclays lowered their price target on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating for the company in a report on Friday, July 12th. Loop Capital lowered their price target on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a report on Thursday, June 13th. Robert W. Baird reduced their price objective on shares of SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price on the stock. in a research report on Thursday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $147.11.

SiteOne Landscape Supply Stock Performance

SITE traded down $4.65 during mid-day trading on Thursday, reaching $142.03. 112,883 shares of the company traded hands, compared to its average volume of 380,731. The stock has a market capitalization of $6.42 billion, a P/E ratio of 41.65 and a beta of 1.52. The company has a quick ratio of 0.96, a current ratio of 2.36 and a debt-to-equity ratio of 0.35. The company’s fifty day moving average price is $134.24 and its 200-day moving average price is $153.82. SiteOne Landscape Supply has a 52-week low of $114.60 and a 52-week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.50 by $0.13. SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business posted $2.71 EPS. SiteOne Landscape Supply’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that SiteOne Landscape Supply will post 3.65 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Equitable Trust Co. increased its position in shares of SiteOne Landscape Supply by 3.0% in the 2nd quarter. Equitable Trust Co. now owns 3,558 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 103 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of SiteOne Landscape Supply in the 2nd quarter valued at approximately $291,000. Van ECK Associates Corp increased its position in shares of SiteOne Landscape Supply by 13.5% in the 2nd quarter. Van ECK Associates Corp now owns 17,131 shares of the industrial products company’s stock valued at $2,080,000 after purchasing an additional 2,042 shares during the last quarter. Sage Rhino Capital LLC purchased a new stake in shares of SiteOne Landscape Supply in the 2nd quarter valued at approximately $274,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of SiteOne Landscape Supply in the 2nd quarter valued at approximately $67,000.

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.