Royal Bank of Canada Issues Positive Forecast for SiteOne Landscape Supply (NYSE:SITE) Stock Price

SiteOne Landscape Supply (NYSE:SITE) had its price target lifted by Royal Bank of Canada from $129.00 to $136.00 in a report issued on Thursday,Benzinga reports. They currently have a sector perform rating on the industrial products company’s stock.

Other equities analysts have also issued reports about the company. Barclays increased their price target on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. StockNews.com raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $140.00 price target (down from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday. Robert W. Baird reduced their price objective on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, UBS Group lowered their price objective on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $154.56.

SiteOne Landscape Supply Price Performance

Shares of NYSE SITE opened at $141.19 on Thursday. The stock has a market cap of $6.37 billion, a P/E ratio of 45.69 and a beta of 1.57. The firm’s 50-day simple moving average is $138.24 and its 200 day simple moving average is $141.45. SiteOne Landscape Supply has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.22). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. Equities analysts expect that SiteOne Landscape Supply will post 2.94 EPS for the current year.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total transaction of $924,300.00. Following the sale, the executive vice president now directly owns 12,942 shares of the company’s stock, valued at $1,840,352.40. The trade was a 33.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SITE. CANADA LIFE ASSURANCE Co boosted its position in SiteOne Landscape Supply by 5.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 9,940 shares of the industrial products company’s stock worth $1,307,000 after acquiring an additional 547 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of SiteOne Landscape Supply by 4,720.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 24,100 shares of the industrial products company’s stock worth $3,176,000 after purchasing an additional 23,600 shares during the period. Marshall Wace LLP purchased a new position in SiteOne Landscape Supply during the fourth quarter valued at approximately $447,000. Wasatch Advisors LP increased its stake in SiteOne Landscape Supply by 9.7% in the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company’s stock valued at $228,107,000 after buying an additional 153,447 shares during the period. Finally, XTX Topco Ltd purchased a new stake in SiteOne Landscape Supply in the 4th quarter worth approximately $386,000.

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.