SiteOne Landscape Supply (SITE) Price Target Lowered to $79.00 at SunTrust Banks

SiteOne Landscape Supply (NYSE:SITE) had its price target lowered by equities research analysts at SunTrust Banks to $79.00 in a research report issued to clients and investors on Monday, The Fly reports. The firm currently has a “buy” rating on the industrial products company’s stock. SunTrust Banks’ price objective points to a potential upside of 19.48% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Deutsche Bank cut their price target on shares of SiteOne Landscape Supply from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada set a $88.00 price objective on shares of SiteOne Landscape Supply and gave the company a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Jefferies Financial Group initiated coverage on shares of SiteOne Landscape Supply in a research note on Friday, October 12th. They issued a “buy” rating and a $80.00 price objective for the company. UBS Group raised shares of SiteOne Landscape Supply from a “sell” rating to a “neutral” rating and set a $75.00 price objective for the company in a research note on Thursday, October 11th. Finally, ValuEngine lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $80.33.

SITE stock traded down $1.89 during midday trading on Monday, reaching $66.12. The company had a trading volume of 31,044 shares, compared to its average volume of 792,003. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.72 and a quick ratio of 1.29. SiteOne Landscape Supply has a 1 year low of $58.70 and a 1 year high of $95.49. The stock has a market cap of $2.78 billion, a PE ratio of 54.64 and a beta of 1.52.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.02). SiteOne Landscape Supply had a return on equity of 31.11% and a net margin of 3.90%. The company had revenue of $578.50 million during the quarter, compared to analysts’ expectations of $590.23 million. During the same period in the prior year, the firm earned $0.41 EPS. SiteOne Landscape Supply’s quarterly revenue was up 15.1% on a year-over-year basis. On average, research analysts expect that SiteOne Landscape Supply will post 2.03 EPS for the current fiscal year.

In related news, VP Joseph Ketter sold 3,000 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $93.67, for a total transaction of $281,010.00. Following the completion of the sale, the vice president now directly owns 8,396 shares in the company, valued at approximately $786,453.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Pascal Convers sold 9,750 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $88.43, for a total transaction of $862,192.50. The disclosure for this sale can be found here. Insiders have sold a total of 91,700 shares of company stock valued at $7,591,235 over the last quarter. 4.40% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Synovus Financial Corp raised its holdings in SiteOne Landscape Supply by 155.6% during the 3rd quarter. Synovus Financial Corp now owns 1,687 shares of the industrial products company’s stock valued at $128,000 after buying an additional 1,027 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in SiteOne Landscape Supply in the 3rd quarter worth $302,000. SG Americas Securities LLC raised its holdings in SiteOne Landscape Supply by 87.6% in the 2nd quarter. SG Americas Securities LLC now owns 4,104 shares of the industrial products company’s stock worth $345,000 after purchasing an additional 1,916 shares in the last quarter. Strs Ohio raised its holdings in SiteOne Landscape Supply by 246.2% in the 2nd quarter. Strs Ohio now owns 4,500 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in SiteOne Landscape Supply by 62.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,735 shares of the industrial products company’s stock worth $397,000 after purchasing an additional 1,813 shares in the last quarter.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.

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The Fly

Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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