Zacks Investment Research cut shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a sell rating in a research report sent to investors on Wednesday.
According to Zacks, “SiteOne Landscape Supply, Inc. is a wholesale distributor of landscape supplies primarily in the United States. It provides irrigation supplies; fertilizer and control products such as herbicides; landscape accessories; turf protection products; grass seed; turf care equipment and golf course maintenance supplies and nursery goods as well as hardscapes, including pavers, natural stones, and blocks; outdoor lighting and ice melt products, as well as related value-added consultative services. SiteOne Landscape Supply, Inc. is headquartered in Roswell, Georgia. “
SITE has been the subject of a number of other research reports. UBS Group upped their price objective on shares of SiteOne Landscape Supply from $54.00 to $66.00 and gave the company a buy rating in a research note on Friday, November 10th. Robert W. Baird raised their price objective on SiteOne Landscape Supply from $58.00 to $74.00 and gave the stock an outperform rating in a research note on Thursday, November 9th. Barclays raised their target price on SiteOne Landscape Supply from $48.00 to $56.00 and gave the company an equal weight rating in a research note on Thursday, November 9th. BidaskClub raised SiteOne Landscape Supply from a buy rating to a strong-buy rating in a report on Thursday, September 21st. Finally, Royal Bank of Canada raised their price target on SiteOne Landscape Supply from $63.00 to $70.00 and gave the company an outperform rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $67.50.
SiteOne Landscape Supply (SITE) opened at $73.33 on Wednesday. The stock has a market cap of $2,839.43, a PE ratio of 67.90 and a beta of 2.66. The company has a quick ratio of 1.21, a current ratio of 2.69 and a debt-to-equity ratio of 2.35. SiteOne Landscape Supply has a 1-year low of $36.06 and a 1-year high of $77.40.
SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.14). SiteOne Landscape Supply had a net margin of 2.49% and a return on equity of 26.42%. The company had revenue of $502.40 million for the quarter, compared to analyst estimates of $506.28 million. During the same period in the prior year, the company earned $0.36 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. equities research analysts predict that SiteOne Landscape Supply will post 1.23 earnings per share for the current year.
In other news, CFO John T. Guthrie sold 20,000 shares of SiteOne Landscape Supply stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $70.91, for a total transaction of $1,418,200.00. Following the completion of the sale, the chief financial officer now directly owns 57,854 shares in the company, valued at approximately $4,102,427.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joseph Ketter sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $71.67, for a total value of $179,175.00. Following the completion of the transaction, the vice president now directly owns 7,716 shares in the company, valued at $553,005.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,967 shares of company stock valued at $7,138,256. 4.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Stifel Financial Corp increased its position in shares of SiteOne Landscape Supply by 0.7% during the second quarter. Stifel Financial Corp now owns 21,869 shares of the industrial products company’s stock valued at $1,138,000 after purchasing an additional 160 shares during the period. Suntrust Banks Inc. boosted its stake in SiteOne Landscape Supply by 9.8% in the second quarter. Suntrust Banks Inc. now owns 6,658 shares of the industrial products company’s stock worth $345,000 after purchasing an additional 592 shares in the last quarter. BB&T Securities LLC raised its position in shares of SiteOne Landscape Supply by 8.8% during the third quarter. BB&T Securities LLC now owns 15,304 shares of the industrial products company’s stock worth $889,000 after acquiring an additional 1,234 shares during the last quarter. American International Group Inc. raised its position in shares of SiteOne Landscape Supply by 8.1% during the third quarter. American International Group Inc. now owns 22,766 shares of the industrial products company’s stock worth $1,323,000 after acquiring an additional 1,702 shares during the last quarter. Finally, Advisor Group Inc. raised its position in shares of SiteOne Landscape Supply by 156.6% during the second quarter. Advisor Group Inc. now owns 3,192 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 1,948 shares during the last quarter.
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SiteOne Landscape Supply Company Profile
SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.
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