Truist Financial Trims SiteOne Landscape Supply (NYSE:SITE) Target Price to $175.00

SiteOne Landscape Supply (NYSE:SITE) had its target price reduced by equities research analysts at Truist Financial from $204.00 to $175.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 21.30% from the company’s previous close.

Other analysts have also issued reports about the company. Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and lowered their target price for the company from $167.00 to $165.00 in a research note on Thursday. Barclays lifted their target price on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an “underweight” rating in a research note on Thursday, February 15th. Loop Capital cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Robert W. Baird lifted their target price on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada raised their price target 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply has an average rating of “Hold” and a consensus price target of $169.00.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE traded up $0.76 during midday trading on Thursday, reaching $144.27. The company had a trading volume of 55,469 shares, compared to its average volume of 309,619. SiteOne Landscape Supply has a 52-week low of $116.81 and a 52-week high of $188.01. The company’s 50 day moving average price is $169.98 and its 200 day moving average price is $156.77. The company has a current ratio of 2.43, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The stock has a market cap of $6.52 billion, a P/E ratio of 38.34 and a beta of 1.53.

SiteOne Landscape Supply (NYSE:SITE) last released 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. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The firm had revenue of $965.00 million during the quarter, compared to the consensus estimate of $942.21 million. During the same period in the prior year, the firm earned ($0.02) EPS. The company’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that SiteOne Landscape Supply will post 4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Doug Black sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.35, for a total value of $1,763,500.00. Following the completion of the transaction, the chief executive officer now owns 574,657 shares of the company’s stock, valued at approximately $101,340,761.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total transaction of $1,763,500.00. Following the completion of the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at $101,340,761.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was 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 owns 15,467 shares in the company, valued at approximately $2,784,060. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock valued at $3,924,500 over the last quarter. 2.70% of the stock is owned by company insiders.

Institutional Trading of SiteOne Landscape Supply

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 32,538 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in SiteOne Landscape Supply by 0.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,113,359 shares of the industrial products company’s stock valued at $194,337,000 after purchasing an additional 8,865 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of SiteOne Landscape Supply by 47.8% in the 1st quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock worth $172,211,000 after purchasing an additional 319,071 shares in the last quarter. Jackson Square Partners LLC raised its stake in shares of SiteOne Landscape Supply by 25.6% in the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock worth $131,588,000 after purchasing an additional 165,067 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of SiteOne Landscape Supply by 14.7% during 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 purchasing 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.