Stifel Nicolaus Downgrades SiteOne Landscape Supply (NYSE:SITE) to Hold

SiteOne Landscape Supply (NYSE:SITE) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $150.00 target price on the industrial products company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 2.27% from the company’s current price.

Several other brokerages also recently issued reports on SITE. Truist Financial lowered their price target on SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating for the company in a report on Thursday, June 6th. UBS Group lowered 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. Jefferies Financial Group lowered their price target on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Loop Capital lowered their target price on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a research note on Thursday, June 13th. Finally, Robert W. Baird lowered their target price on SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. 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 company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $147.11.

SiteOne Landscape Supply Trading Up 2.2 %

Shares of SITE opened at $146.67 on Thursday. The stock has a fifty day moving average of $134.24 and a two-hundred day moving average of $153.82. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 2.36. The company has a market capitalization of $6.63 billion, a PE ratio of 42.51 and a beta of 1.52. SiteOne Landscape Supply has a fifty-two week low of $114.60 and a fifty-two week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). The firm had revenue of $904.80 million for the quarter, compared to analyst estimates of $864.01 million. SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. As a group, analysts forecast that SiteOne Landscape Supply will post 3.65 EPS for the current year.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of large investors have recently bought and sold shares of SITE. Legacy Capital Group California Inc. raised its holdings in shares of SiteOne Landscape Supply by 3.2% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,886 shares of the industrial products company’s stock valued at $469,000 after buying an additional 90 shares during the last quarter. MJP Associates Inc. ADV raised its holdings in SiteOne Landscape Supply by 5.7% during the second quarter. MJP Associates Inc. ADV now owns 1,707 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 92 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in SiteOne Landscape Supply by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,018 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 98 shares in the last quarter. Hills Bank & Trust Co raised its holdings in SiteOne Landscape Supply by 8.7% during the fourth quarter. Hills Bank & Trust Co now owns 1,566 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 125 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in SiteOne Landscape Supply by 7.9% during the first quarter. iA Global Asset Management Inc. now owns 1,741 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 127 shares in the last quarter.

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.