SiteOne Landscape Supply (NYSE:SITE) Stock Rating Upgraded by Jefferies Financial Group

SiteOne Landscape Supply (NYSE:SITE) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has a $175.00 price target on the industrial products company’s stock, up from their previous price target of $145.00. Jefferies Financial Group’s target price would indicate a potential upside of 15.86% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group assumed coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They set a “neutral” rating and a $158.00 target price on the stock. 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. Robert W. Baird lifted their target price on SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, StockNews.com raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average price target of $152.80.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $151.05 on Friday. The firm has a fifty day moving average of $146.34 and a 200-day moving average of $140.19. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 48.88 and a beta of 1.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. SiteOne Landscape Supply has a 1 year low of $114.60 and a 1 year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last posted 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 the consensus estimate of $1.19 billion. SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. SiteOne Landscape Supply’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. As a group, equities analysts anticipate that SiteOne Landscape Supply will post 3.41 earnings per share for the current year.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total transaction of $924,300.00. Following the transaction, the executive vice president now owns 12,942 shares in the company, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several large investors have recently made changes to their positions in the business. Tidal Investments LLC bought a new stake in shares of SiteOne Landscape Supply in the first quarter valued at about $216,000. Cetera Investment Advisers lifted its position in SiteOne Landscape Supply by 143.8% in the first quarter. Cetera Investment Advisers now owns 12,281 shares of the industrial products company’s stock worth $2,144,000 after purchasing an additional 7,244 shares during the period. Cetera Advisors LLC acquired a new stake in SiteOne Landscape Supply during the first quarter worth $708,000. Park Avenue Securities LLC increased its holdings in SiteOne Landscape Supply by 8.5% in the 2nd quarter. Park Avenue Securities LLC now owns 7,127 shares of the industrial products company’s stock valued at $865,000 after buying an additional 561 shares during the period. Finally, OLD National Bancorp IN acquired a new position in shares of SiteOne Landscape Supply in the 2nd quarter valued at $267,000.

SiteOne Landscape Supply Company Profile

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.