SiteOne Landscape Supply (NYSE:SITE) Upgraded to “Strong-Buy” at KeyCorp

SiteOne Landscape Supply (NYSE:SITE) was upgraded by KeyCorp to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Thursday, April 30th. Stifel Nicolaus decreased their price target on SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Bank of America dropped their price objective on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Finally, Robert W. Baird set a $160.00 price objective on SiteOne Landscape Supply in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, SiteOne Landscape Supply has an average rating of “Hold” and a consensus price target of $158.36.

SiteOne Landscape Supply Stock Down 1.6%

Shares of SITE stock opened at $105.19 on Monday. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply has a 1 year low of $100.52 and a 1 year high of $168.56. The firm’s fifty day moving average price is $111.42 and its two-hundred day moving average price is $129.43. The firm has a market capitalization of $4.66 billion, a P/E ratio of 31.22, a PEG ratio of 1.43 and a beta of 1.34.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.27). The business had revenue of $940.10 million for the quarter, compared to the consensus estimate of $982.27 million. SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the firm earned ($0.61) earnings per share. On average, equities analysts predict that SiteOne Landscape Supply will post 4.06 EPS for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 562 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $112.52, for a total value of $63,236.24. Following the completion of the sale, the director directly owned 11,267 shares in the company, valued at approximately $1,267,762.84. This trade represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of institutional investors have recently bought and sold shares of SITE. Millennium Management LLC lifted its position in shares of SiteOne Landscape Supply by 45.9% in the first quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock valued at $9,126,000 after buying an additional 23,657 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 107 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in SiteOne Landscape Supply by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock valued at $25,907,000 after acquiring an additional 11,574 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in SiteOne Landscape Supply by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock valued at $20,679,000 after acquiring an additional 16,378 shares during the period. Finally, Jane Street Group LLC acquired a new stake in SiteOne Landscape Supply during the 1st quarter valued at $6,797,000.

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.