SiteOne Landscape Supply (NYSE:SITE – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
Several other equities analysts have also weighed in on the stock. The Goldman Sachs Group began coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price target for the company. Stifel Nicolaus lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 price target for the company. in a research report on Thursday, August 1st. Truist Financial increased their price target on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group reduced their price target on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Finally, Barclays increased their price target on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $147.80.
View Our Latest Report on SITE
SiteOne Landscape Supply Stock Up 1.3 %
SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.21). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, equities analysts expect that SiteOne Landscape Supply will post 3.06 earnings per share for the current fiscal year.
Institutional Investors Weigh In On SiteOne Landscape Supply
A number of institutional investors and hedge funds have recently modified their holdings of SITE. Bank of New York Mellon Corp lifted its holdings in shares of SiteOne Landscape Supply by 49.3% in the second quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock worth $58,226,000 after buying an additional 158,350 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in SiteOne Landscape Supply in the first quarter valued at approximately $21,860,000. Vaughan Nelson Investment Management L.P. raised its stake in SiteOne Landscape Supply by 130.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 198,214 shares of the industrial products company’s stock valued at $24,065,000 after purchasing an additional 112,362 shares in the last quarter. American Century Companies Inc. raised its stake in SiteOne Landscape Supply by 44.3% in the second quarter. American Century Companies Inc. now owns 360,079 shares of the industrial products company’s stock valued at $43,717,000 after purchasing an additional 110,589 shares in the last quarter. Finally, Swedbank AB purchased a new stake in SiteOne Landscape Supply in the first quarter valued at approximately $16,757,000.
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.
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