SiteOne Landscape Supply (NYSE:SITE) Upgraded by Stifel Nicolaus to Buy

SiteOne Landscape Supply (NYSE:SITE) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Thursday, FinViz reports. The brokerage currently has a $165.00 price objective on the industrial products company’s stock, down from their prior price objective of $167.00. Stifel Nicolaus’ price target suggests a potential upside of 14.97% from the company’s current price.

A number of other research firms also recently weighed in on SITE. Truist Financial boosted their target price on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Robert W. Baird lifted their price target on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Royal Bank of Canada upped their price objective on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Loop Capital cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Barclays boosted their target price on SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an “underweight” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $172.63.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $143.51 on Thursday. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 37.97 and a beta of 1.53. SiteOne Landscape Supply has a 1 year low of $116.81 and a 1 year high of $188.01. The stock’s 50 day simple moving average is $169.98 and its two-hundred day simple moving average is $156.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.43 and a quick ratio of 1.10.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. The firm had revenue of $965.00 million during the quarter, compared to analyst estimates of $942.21 million. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. SiteOne Landscape Supply’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. As a group, equities analysts anticipate that SiteOne Landscape Supply will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In related news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the transaction, the chief executive officer now owns 574,657 shares in the company, valued at approximately $93,151,899.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,467 shares of the company’s stock, valued at approximately $2,784,060. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the transaction, the chief executive officer now owns 574,657 shares in the company, valued at $93,151,899.70. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock worth $3,924,500 over the last 90 days. Company insiders own 2.70% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

Several institutional investors and hedge funds have recently modified their holdings of SITE. Vanguard Group Inc. grew its stake in SiteOne Landscape Supply by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 4,134,723 shares of the industrial products company’s stock worth $671,892,000 after purchasing an additional 32,538 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of SiteOne Landscape Supply by 0.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,113,359 shares of the industrial products company’s stock worth $194,337,000 after buying an additional 8,865 shares during the period. Wasatch Advisors LP grew its position in shares of SiteOne Landscape Supply by 47.8% during the 1st quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock worth $172,211,000 after buying an additional 319,071 shares in the last quarter. Jackson Square Partners LLC increased its stake in shares of SiteOne Landscape Supply by 25.6% during the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock valued at $131,588,000 after buying an additional 165,067 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of SiteOne Landscape Supply by 14.7% in the fourth quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock valued at $129,724,000 after acquiring an additional 102,207 shares in the last quarter.

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.