Barclays Trims SiteOne Landscape Supply (NYSE:SITE) Target Price to $133.00

SiteOne Landscape Supply (NYSE:SITE) had its price target lowered by equities research analysts at Barclays from $145.00 to $133.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential downside of 11.51% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and lowered their target price for the stock from $167.00 to $165.00 in a research note on Thursday. Royal Bank of Canada increased their price target on SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Robert W. Baird increased their price target on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Truist Financial reduced their price target on SiteOne Landscape Supply from $204.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Loop Capital downgraded SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $167.50.

SiteOne Landscape Supply Price Performance

SITE traded up $6.79 during trading on Thursday, hitting $150.30. The company’s stock had a trading volume of 408,086 shares, compared to its average volume of 313,912. The firm’s 50 day moving average price is $169.98 and its two-hundred day moving average price is $156.77. The company has a quick ratio of 1.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.29. SiteOne Landscape Supply has a 12 month low of $116.81 and a 12 month high of $188.01. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 39.85 and a beta of 1.53.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.22). The business had revenue of $904.80 million during the quarter, compared to the consensus estimate of $864.01 million. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.10) EPS. Sell-side analysts forecast that SiteOne Landscape Supply will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares in the company, valued at approximately $93,151,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares in the company, valued at approximately $93,151,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John T. Guthrie sold 3,000 shares of SiteOne Landscape Supply stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,467 shares in the company, valued at approximately $2,784,060. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,000 shares of company stock worth $3,924,500. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC increased its holdings in shares of SiteOne Landscape Supply by 46.3% in the first quarter. Jennison Associates LLC now owns 177,793 shares of the industrial products company’s stock worth $31,034,000 after purchasing an additional 56,234 shares during the period. FORA Capital LLC bought a new position in shares of SiteOne Landscape Supply in the first quarter worth $209,000. Fidelis Capital Partners LLC bought a new position in shares of SiteOne Landscape Supply in the first quarter worth $133,000. Janney Montgomery Scott LLC increased its holdings in shares of SiteOne Landscape Supply by 3.1% in the first quarter. Janney Montgomery Scott LLC now owns 35,785 shares of the industrial products company’s stock worth $6,246,000 after purchasing an additional 1,084 shares during the period. Finally, Norden Group LLC bought a new position in shares of SiteOne Landscape Supply in the first quarter worth $283,000.

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.