Barclays Trims SiteOne Landscape Supply (NYSE:SITE) Target Price to $114.00

SiteOne Landscape Supply (NYSE:SITE) had its price target lowered by Barclays from $129.00 to $114.00 in a research report sent to investors on Friday, Benzinga reports. Barclays currently has an underweight rating on the industrial products company’s stock.

Several other analysts have also commented on the stock. Stifel Nicolaus lowered their price target on shares of SiteOne Landscape Supply from $165.00 to $150.00 and set a buy rating on the stock in a research report on Monday, June 10th. UBS Group decreased their target price on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. Truist Financial decreased their target price on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a buy rating on the stock in a research report on Thursday, June 6th. Robert W. Baird decreased their target price on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an outperform rating on the stock in a research report on Wednesday, June 5th. Finally, Loop Capital decreased their target price on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a hold rating on the stock in a research report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $147.11.

SiteOne Landscape Supply Stock Up 0.6 %

SITE stock opened at $130.22 on Friday. The company’s 50 day simple moving average is $138.36 and its 200-day simple moving average is $155.37. The firm has a market capitalization of $5.89 billion, a PE ratio of 37.74 and a beta of 1.52. SiteOne Landscape Supply has a 12 month low of $114.60 and a 12 month high of $188.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.36 and a quick ratio of 0.96.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.22). The business had revenue of $904.80 million during the quarter, compared to analyst estimates of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Equities analysts expect that SiteOne Landscape Supply will post 3.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total value of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares of the company’s stock, valued at approximately $93,151,899.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new stake in SiteOne Landscape Supply during the 1st quarter worth $29,000. Principal Securities Inc. purchased a new stake in SiteOne Landscape Supply during the 4th quarter worth $31,000. GAMMA Investing LLC purchased a new stake in SiteOne Landscape Supply during the 4th quarter worth $38,000. Benjamin F. Edwards & Company Inc. increased its stake in SiteOne Landscape Supply by 588.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after buying an additional 247 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new stake in SiteOne Landscape Supply during the 1st quarter worth $58,000.

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.