SiteOne Landscape Supply (NYSE:SITE) Price Target Raised to $68.00

SiteOne Landscape Supply (NYSE:SITE) had its price target lifted by Royal Bank of Canada to $68.00 in a research note released on Thursday, The Fly reports. They currently have a sector perform rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group set a $58.00 price target on shares of SiteOne Landscape Supply and gave the stock a hold rating in a research report on Friday, May 3rd. Berenberg Bank set a $76.00 price objective on shares of SiteOne Landscape Supply and gave the company a buy rating in a research report on Friday, May 3rd. TheStreet upgraded shares of SiteOne Landscape Supply from a c- rating to a b- rating in a research report on Thursday, June 13th. Zacks Investment Research upgraded shares of SiteOne Landscape Supply from a hold rating to a buy rating and set a $78.00 price objective on the stock in a research report on Wednesday, July 3rd. Finally, Robert W. Baird upgraded shares of SiteOne Landscape Supply from a neutral rating to an outperform rating and boosted their price objective for the company from $64.00 to $77.00 in a research report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $76.90.

SITE traded up $1.28 during trading hours on Thursday, hitting $73.39. The company’s stock had a trading volume of 299,113 shares, compared to its average volume of 365,471. The firm has a 50-day moving average of $68.84. SiteOne Landscape Supply has a 12 month low of $45.32 and a 12 month high of $95.04. The firm has a market cap of $2.97 billion, a PE ratio of 42.42 and a beta of 1.07. The company has a current ratio of 2.50, a quick ratio of 0.94 and a debt-to-equity ratio of 2.33.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.10). SiteOne Landscape Supply had a return on equity of 22.24% and a net margin of 3.08%. The business had revenue of $752.40 million during the quarter, compared to the consensus estimate of $774.03 million. During the same quarter in the prior year, the firm posted $1.48 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts predict that SiteOne Landscape Supply will post 1.62 earnings per share for the current year.

In other SiteOne Landscape Supply news, EVP Ross Anker sold 1,820 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $64.90, for a total transaction of $118,118.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC boosted its stake in shares of SiteOne Landscape Supply by 451.2% during the first quarter. Advisory Services Network LLC now owns 474 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 388 shares during the period. Park National Corp OH purchased a new stake in shares of SiteOne Landscape Supply during the first quarter valued at $207,000. First Allied Advisory Services Inc. purchased a new stake in shares of SiteOne Landscape Supply during the first quarter valued at $217,000. Strs Ohio boosted its stake in shares of SiteOne Landscape Supply by 450.0% during the second quarter. Strs Ohio now owns 3,300 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 2,700 shares during the period. Finally, Stephens Inc. AR boosted its stake in shares of SiteOne Landscape Supply by 5.4% during the first quarter. Stephens Inc. AR now owns 4,386 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 223 shares during the period.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 120,000 stock keeping units, including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, outdoor lightings, and ice melt products, as well as hardscapes, such as pavers, natural stones, and blocks.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

The Fly

Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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