SiteOne Landscape Supply (NYSE:SITE) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

SiteOne Landscape Supply (NYSE:SITE) had its price objective boosted by Royal Bank of Canada from $129.00 to $136.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target points to a potential downside of 6.98% from the stock’s previous close.

A number of other brokerages also recently commented on SITE. UBS Group reduced their price objective on SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a research report on Thursday. Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $175.00 in a research report on Friday, December 6th. Barclays lifted their price objective on SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Robert W. Baird reduced their price objective on SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $140.00 price objective (down previously from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday, February 10th. Two 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $154.56.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE opened at $146.21 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The business’s 50 day moving average price is $138.17 and its 200-day moving average price is $141.45. The firm has a market capitalization of $6.60 billion, a PE ratio of 47.32 and a beta of 1.57. 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 issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share (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%. As a group, equities research analysts expect that SiteOne Landscape Supply will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, EVP Joseph Ketter sold 6,500 shares of SiteOne Landscape Supply stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the sale, the executive vice president now directly owns 12,942 shares of the company’s stock, valued at approximately $1,840,352.40. The trade was a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Institutional investors have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of SiteOne Landscape Supply by 90.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Blue Trust Inc. grew its stake in SiteOne Landscape Supply by 287.7% during the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 187 shares in the last quarter. Trust Co. of Vermont grew its stake in SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 250 shares in the last quarter. Tortoise Investment Management LLC grew its stake in SiteOne Landscape Supply by 78.9% during the 4th quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 131 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in SiteOne Landscape Supply during the 4th quarter worth $40,000.

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.