Bank of America Cuts SiteOne Landscape Supply (NYSE:SITE) Price Target to $167.00
by Amy Steele · The Cerbat GemSiteOne Landscape Supply (NYSE:SITE – Get Free Report) had its price objective decreased by Bank of America from $182.00 to $167.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price target indicates a potential upside of 15.80% from the company’s previous close.
A number of other research firms have also weighed in on SITE. Truist Financial lifted their price objective on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Robert W. Baird set a $190.00 price objective on shares of SiteOne Landscape Supply in a research report on Thursday, February 12th. Royal Bank Of Canada lifted their price objective on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Barclays lifted their price objective on shares of SiteOne Landscape Supply from $134.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Finally, Zacks Research upgraded shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $162.22.
View Our Latest Stock Report on SITE
SiteOne Landscape Supply Stock Performance
NYSE:SITE opened at $144.22 on Monday. The firm’s fifty day moving average price is $138.82 and its 200 day moving average price is $133.99. SiteOne Landscape Supply has a 1-year low of $106.74 and a 1-year high of $168.56. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 1.20. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 42.92, a price-to-earnings-growth ratio of 1.85 and a beta of 1.57.
SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.09. SiteOne Landscape Supply had a net margin of 3.23% and a return on equity of 9.28%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm posted ($0.48) EPS. SiteOne Landscape Supply’s quarterly revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts expect that SiteOne Landscape Supply will post 3.61 EPS for the current year.
Insider Activity at SiteOne Landscape Supply
In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $158.01, for a total transaction of $278,887.65. Following the sale, the executive vice president directly owned 2,911 shares in the company, valued at approximately $459,967.11. The trade was a 37.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.
Institutional Investors Weigh In On SiteOne Landscape Supply
Institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC boosted its position in shares of SiteOne Landscape Supply by 541.9% during the 4th quarter. True Wealth Design LLC now owns 199 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 168 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of SiteOne Landscape Supply by 1,521.4% during the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 213 shares in the last quarter. IFP Advisors Inc boosted its position in shares of SiteOne Landscape Supply by 106.8% during the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 158 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of SiteOne Landscape Supply during the 4th quarter worth $42,000. Finally, HM Payson & Co. boosted its position in shares of SiteOne Landscape Supply by 32.2% during the 3rd quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 97 shares in the last quarter.
SiteOne Landscape Supply Company Profile
SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.
In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.