Stifel Nicolaus Issues Pessimistic Forecast for SiteOne Landscape Supply (NYSE:SITE) Stock Price

SiteOne Landscape Supply (NYSE:SITE) had its target price decreased by analysts at Stifel Nicolaus from $140.00 to $134.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price points to a potential upside of 5.48% from the stock’s current price.

A number of other research firms have also recently weighed in on SITE. William Blair reissued a “market perform” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 15th. Zacks Research raised shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Weiss Ratings restated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 8th. The Goldman Sachs Group lowered their price target on shares of SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Finally, Barclays set a $134.00 price objective on shares of SiteOne Landscape Supply and gave the company an “equal weight” rating in a research report on Monday, December 8th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $150.44.

SiteOne Landscape Supply Price Performance

SITE stock traded down $1.05 during midday trading on Tuesday, hitting $127.04. 105,035 shares of the stock were exchanged, compared to its average volume of 543,850. The stock’s 50-day moving average price is $126.64 and its 200-day moving average price is $129.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.14 and a current ratio of 2.49. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 2.11 and a beta of 1.60. SiteOne Landscape Supply has a fifty-two week low of $101.25 and a fifty-two week high of $154.00.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. SiteOne Landscape Supply had a return on equity of 8.62% and a net margin of 2.98%.The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $0.97 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts predict that SiteOne Landscape Supply will post 3.61 earnings per share for the current year.

Hedge Funds Weigh In On SiteOne Landscape Supply

Large investors have recently bought and sold shares of the stock. Swiss Life Asset Management Ltd purchased a new stake in shares of SiteOne Landscape Supply during the 3rd quarter valued at $270,000. CIBC Bancorp USA Inc. acquired a new position in SiteOne Landscape Supply in the third quarter valued at $634,000. Danske Bank A S purchased a new stake in SiteOne Landscape Supply during the third quarter valued at about $52,000. Caitong International Asset Management Co. Ltd grew its position in SiteOne Landscape Supply by 249.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 506 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 361 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in SiteOne Landscape Supply during the third quarter worth about $60,000.

SiteOne Landscape Supply Company Profile

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.