Barclays Forecasts Strong Price Appreciation for SiteOne Landscape Supply (NYSE:SITE) Stock

SiteOne Landscape Supply (NYSE:SITE) had its target price increased by equities researchers at Barclays from $114.00 to $120.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Barclays‘s target price would suggest a potential downside of 15.47% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. UBS Group cut their price target on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Stifel Nicolaus downgraded SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price for the company. in a research report on Thursday, August 1st. Jefferies Financial Group lowered their price target on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group began coverage on SiteOne Landscape Supply in a report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price objective for the company. Finally, StockNews.com lowered shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, SiteOne Landscape Supply has a consensus rating of “Hold” and an average price target of $147.80.

SiteOne Landscape Supply Stock Performance

SITE opened at $141.96 on Thursday. The stock has a market cap of $6.41 billion, a PE ratio of 45.94 and a beta of 1.53. SiteOne Landscape Supply has a 1 year low of $114.60 and a 1 year high of $188.01. The stock’s 50 day simple moving average is $143.39 and its 200-day simple moving average is $141.89. The company has a current ratio of 2.47, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.21). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.38%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. Sell-side analysts forecast that SiteOne Landscape Supply will post 3.21 EPS for the current year.

Insiders Place Their Bets

In other news, Director Fred M. Diaz sold 878 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $129.04, for a total transaction of $113,297.12. Following the sale, the director now directly owns 11,267 shares of the company’s stock, valued at $1,453,893.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of SiteOne Landscape Supply in the 2nd quarter valued at about $27,000. Toronto Dominion Bank acquired a new position in SiteOne Landscape Supply in the first quarter valued at approximately $29,000. Blue Trust Inc. boosted its stake in SiteOne Landscape Supply by 287.7% in the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 187 shares during the last quarter. American National Bank & Trust acquired a new stake in SiteOne Landscape Supply during the 3rd quarter worth $49,000. Finally, Quarry LP bought a new stake in shares of SiteOne Landscape Supply during the 2nd quarter valued at $61,000.

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.