SiteOne Landscape Supply (NYSE:SITE) Price Target Raised to $143.00 at Royal Bank Of Canada

SiteOne Landscape Supply (NYSE:SITE) had its target price upped by Royal Bank Of Canada from $130.00 to $143.00 in a research note issued to investors on Thursday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on SITE. Stifel Nicolaus lowered their price objective on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Loop Capital lowered their price objective on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Truist Financial lowered their price objective on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $147.00.

SiteOne Landscape Supply Stock Down 3.2%

SiteOne Landscape Supply stock opened at $137.61 on Thursday. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 50.22, a PEG ratio of 2.57 and a beta of 1.55. The company has a current ratio of 2.36, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $123.99 and its two-hundred day moving average price is $125.51. SiteOne Landscape Supply has a 52 week low of $101.25 and a 52 week high of $160.74.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.86%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.63 EPS. On average, analysts expect that SiteOne Landscape Supply will post 3.61 EPS for the current fiscal year.

Insider Activity

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 39,640 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total value of $5,005,739.20. Following the completion of the transaction, the executive vice president directly owned 13,663 shares in the company, valued at $1,725,363.64. This trade represents a 74.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Doug Black sold 29,760 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the sale, the chief executive officer owned 596,684 shares of the company’s stock, valued at approximately $77,139,307.52. This represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,784 shares of company stock valued at $9,828,465. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

Several institutional investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC boosted its holdings in shares of SiteOne Landscape Supply by 4.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,037 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 78 shares during the period. State of Wyoming boosted its holdings in shares of SiteOne Landscape Supply by 6.2% during the fourth quarter. State of Wyoming now owns 1,389 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 81 shares during the period. GAMMA Investing LLC lifted its holdings in shares of SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company’s stock valued at $59,000 after buying an additional 95 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after buying an additional 107 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in SiteOne Landscape Supply by 3.9% in the first quarter. Deutsche Bank AG now owns 3,228 shares of the industrial products company’s stock worth $392,000 after buying an additional 121 shares during the last quarter.

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.