SiteOne Landscape Supply (NYSE:SITE) Price Target Cut to $132.00 by Analysts at Royal Bank of Canada

SiteOne Landscape Supply (NYSE:SITE) had its price objective lowered by stock analysts at Royal Bank of Canada from $133.00 to $132.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective points to a potential downside of 4.88% from the company’s previous close.

Other analysts have also issued reports about the stock. Stifel Nicolaus lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price objective for the company. in a report on Thursday. Loop Capital lowered their target price 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 cut their price target on SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial lifted their price objective on SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group reduced their price target on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and a consensus price target of $144.33.

SiteOne Landscape Supply Trading Down 5.4 %

SiteOne Landscape Supply stock traded down $7.91 during trading hours on Thursday, reaching $138.77. The stock had a trading volume of 366,226 shares, compared to its average volume of 382,778. The stock has a market cap of $6.27 billion, a PE ratio of 40.22 and a beta of 1.52. The company has a fifty day simple moving average of $134.24 and a 200-day simple moving average of $153.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.36 and a quick ratio of 0.96. 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 earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (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 company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm earned $2.71 earnings per share. SiteOne Landscape Supply’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts forecast that SiteOne Landscape Supply will post 3.65 EPS for the current fiscal year.

Institutional Investors Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in SiteOne Landscape Supply during the 2nd quarter valued at $27,000. Toronto Dominion Bank bought a new stake in shares of SiteOne Landscape Supply in the first quarter worth $29,000. Principal Securities Inc. purchased a new stake in SiteOne Landscape Supply during the fourth quarter valued at $31,000. GAMMA Investing LLC bought a new position in SiteOne Landscape Supply in the fourth quarter valued at about $38,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in SiteOne Landscape Supply by 588.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 247 shares during the period.

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.