Royal Bank of Canada set a $88.00 price objective on SiteOne Landscape Supply (NYSE:SITE) in a research note published on Thursday, The Fly reports. The brokerage currently has a buy rating on the industrial products company’s stock. The analysts noted that the move was a valuation call.
Other research analysts also recently issued research reports about the stock. TheStreet upgraded shares of SiteOne Landscape Supply from a c rating to a b- rating in a report on Thursday, August 9th. UBS Group upped their target price on shares of SiteOne Landscape Supply from $76.00 to $80.00 and gave the stock a sell rating in a research report on Thursday, August 30th. Zacks Investment Research lowered shares of SiteOne Landscape Supply from a buy rating to a hold rating in a research report on Thursday, July 19th. Barclays upped their target price on shares of SiteOne Landscape Supply from $67.00 to $75.00 and gave the stock a hold rating in a research report on Wednesday, August 1st. Finally, Goldman Sachs Group started coverage on shares of SiteOne Landscape Supply in a research report on Tuesday, October 2nd. They set a buy rating and a $111.00 target price on the stock. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $81.44.
SITE stock opened at $68.01 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.72 and a quick ratio of 1.29. SiteOne Landscape Supply has a 1 year low of $58.70 and a 1 year high of $95.49. The firm has a market capitalization of $2.78 billion, a P/E ratio of 56.21 and a beta of 1.52.
SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.02). SiteOne Landscape Supply had a net margin of 3.90% and a return on equity of 31.11%. The business had revenue of $578.50 million during the quarter, compared to analyst estimates of $590.23 million. During the same period in the previous year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts forecast that SiteOne Landscape Supply will post 2.03 earnings per share for the current year.
In related news, CFO John T. Guthrie sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $89.90, for a total value of $899,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Doug Black sold 12,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $90.01, for a total transaction of $1,080,120.00. Following the completion of the transaction, the chief executive officer now owns 398,228 shares in the company, valued at $35,844,502.28. The disclosure for this sale can be found here. Insiders sold 91,700 shares of company stock worth $7,591,235 over the last 90 days. 4.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in SiteOne Landscape Supply by 29.0% in the second quarter. BlackRock Inc. now owns 2,882,470 shares of the industrial products company’s stock valued at $242,041,000 after purchasing an additional 648,424 shares in the last quarter. Wells Fargo & Company MN increased its stake in SiteOne Landscape Supply by 10.3% in the third quarter. Wells Fargo & Company MN now owns 2,120,650 shares of the industrial products company’s stock valued at $159,770,000 after purchasing an additional 197,311 shares in the last quarter. Wasatch Advisors Inc. increased its stake in SiteOne Landscape Supply by 9.8% in the second quarter. Wasatch Advisors Inc. now owns 1,406,023 shares of the industrial products company’s stock valued at $118,064,000 after purchasing an additional 124,976 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in SiteOne Landscape Supply by 14.5% in the third quarter. Conestoga Capital Advisors LLC now owns 930,106 shares of the industrial products company’s stock valued at $70,074,000 after purchasing an additional 118,100 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in SiteOne Landscape Supply in the second quarter valued at approximately $71,949,000.
About SiteOne Landscape Supply
SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.
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