SiteOne Landscape Supply (NYSE:SITE) Stock Rating Lowered by Zacks Research

SiteOne Landscape Supply (NYSE:SITE) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts also recently commented on SITE. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday. Stifel Nicolaus dropped their price target on shares of SiteOne Landscape Supply from $140.00 to $134.00 and set a “hold” rating on the stock in a research note on Tuesday, December 16th. Royal Bank Of Canada raised SiteOne Landscape Supply from a “sector perform” rating to an “outperform” rating and set a $151.00 price objective on the stock in a report on Thursday, January 8th. The Goldman Sachs Group decreased their price objective on shares of SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Finally, Barclays set a $134.00 price objective on SiteOne Landscape Supply and gave the company an “equal weight” rating in a research note on Monday, December 8th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of “Hold” and a consensus target price of $150.10.

SiteOne Landscape Supply Stock Up 0.4%

SiteOne Landscape Supply stock opened at $148.46 on Wednesday. The stock’s fifty day simple moving average is $132.67 and its 200-day simple moving average is $132.26. The company has a current ratio of 2.49, a quick ratio of 1.14 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $6.61 billion, a P/E ratio of 48.20, a P/E/G ratio of 1.56 and a beta of 1.58. SiteOne Landscape Supply has a twelve month low of $101.25 and a twelve month high of $154.00.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.09. SiteOne Landscape Supply had a net margin of 2.98% and a return on equity of 8.62%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts expect that SiteOne Landscape Supply will post 3.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SITE. Teacher Retirement System of Texas boosted its stake in SiteOne Landscape Supply by 16.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,308 shares of the industrial products company’s stock valued at $1,247,000 after purchasing an additional 1,422 shares during the period. American Century Companies Inc. raised its position in shares of SiteOne Landscape Supply by 20.6% during the second quarter. American Century Companies Inc. now owns 629,029 shares of the industrial products company’s stock valued at $76,075,000 after buying an additional 107,465 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its stake in shares of SiteOne Landscape Supply by 6.2% in the second quarter. Advantage Alpha Capital Partners LP now owns 42,756 shares of the industrial products company’s stock valued at $5,171,000 after buying an additional 2,501 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in SiteOne Landscape Supply during the second quarter worth about $989,000. Finally, Rockefeller Capital Management L.P. increased its stake in SiteOne Landscape Supply by 37.8% during the second quarter. Rockefeller Capital Management L.P. now owns 79,564 shares of the industrial products company’s stock valued at $9,622,000 after acquiring an additional 21,810 shares during the period.

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.