Research Analysts Set Expectations for SiteOne Landscape Supply, Inc.’s Q3 2024 Earnings (NYSE:SITE)

SiteOne Landscape Supply, Inc. (NYSE:SITE) – Equities researchers at William Blair dropped their Q3 2024 earnings estimates for shares of SiteOne Landscape Supply in a note issued to investors on Wednesday, July 31st. William Blair analyst R. Merkel now anticipates that the industrial products company will post earnings per share of $1.07 for the quarter, down from their previous estimate of $1.37. The consensus estimate for SiteOne Landscape Supply’s current full-year earnings is $3.19 per share. William Blair also issued estimates for SiteOne Landscape Supply’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at $3.05 EPS and FY2025 earnings at $3.81 EPS.

A number of other brokerages also recently commented on SITE. Loop Capital cut their price objective on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a research report on Thursday, June 13th. Stifel Nicolaus downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price target for the company. in a research report on Thursday, August 1st. UBS Group decreased their price target on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Robert W. Baird dropped their price objective on SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Jefferies Financial Group lowered their target price on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and a consensus target price of $144.33.

SiteOne Landscape Supply Trading Up 2.3 %

Shares of SITE stock opened at $135.79 on Monday. The company has a market capitalization of $6.13 billion, a P/E ratio of 39.36 and a beta of 1.52. The company has a current ratio of 2.47, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $133.16 and its two-hundred day moving average is $153.38. SiteOne Landscape Supply has a twelve month low of $114.60 and a twelve month high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $2.71 earnings per share.

Institutional Trading of SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oak Thistle LLC acquired a new stake in shares of SiteOne Landscape Supply during the 2nd quarter worth about $261,000. Acadian Asset Management LLC purchased a new position in shares of SiteOne Landscape Supply during the second quarter valued at approximately $367,000. Private Advisor Group LLC boosted its position in SiteOne Landscape Supply by 390.1% during the second quarter. Private Advisor Group LLC now owns 8,876 shares of the industrial products company’s stock worth $1,078,000 after acquiring an additional 7,065 shares during the last quarter. Arizona State Retirement System grew its stake in SiteOne Landscape Supply by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 12,638 shares of the industrial products company’s stock worth $1,534,000 after acquiring an additional 236 shares during the period. Finally, Kornitzer Capital Management Inc. KS acquired a new position in SiteOne Landscape Supply in the 2nd quarter valued at $4,116,000.

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.