SiteOne Landscape Supply Inc (NYSE:SITE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “SiteOne Landscape Supply, Inc. is a wholesale distributor of landscape supplies primarily in the United States. It provides irrigation supplies; fertilizer and control products such as herbicides; landscape accessories; turf protection products; grass seed; turf care equipment and golf course maintenance supplies and nursery goods as well as hardscapes, including pavers, natural stones, and blocks; outdoor lighting and ice melt products, as well as related value-added consultative services. SiteOne Landscape Supply, Inc. is headquartered in Roswell, Georgia. “

Separately, Barclays PLC boosted their target price on shares of SiteOne Landscape Supply from $38.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, March 16th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $38.43.

Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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SiteOne Landscape Supply (NYSE:SITE) opened at 47.88 on Friday. The firm’s 50-day moving average price is $45.33 and its 200 day moving average price is $37.79. SiteOne Landscape Supply has a 52-week low of $25.49 and a 52-week high of $50.04. The stock’s market cap is $1.90 billion.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, March 15th. The industrial products company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.06. SiteOne Landscape Supply had a net margin of 1.86% and a return on equity of 33.19%. The firm had revenue of $361.80 million for the quarter, compared to analyst estimates of $355.02 million. SiteOne Landscape Supply’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts predict that SiteOne Landscape Supply will post $1.46 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC bought a new position in SiteOne Landscape Supply during the fourth quarter worth $48,700,000. Bamco Inc. NY increased its position in SiteOne Landscape Supply by 16.0% in the third quarter. Bamco Inc. NY now owns 854,129 shares of the industrial products company’s stock worth $30,689,000 after buying an additional 118,000 shares during the period. Conestoga Capital Advisors LLC increased its position in SiteOne Landscape Supply by 3.5% in the first quarter. Conestoga Capital Advisors LLC now owns 792,434 shares of the industrial products company’s stock worth $38,362,000 after buying an additional 26,749 shares during the period. Brown Advisory Inc. increased its position in SiteOne Landscape Supply by 182.1% in the fourth quarter. Brown Advisory Inc. now owns 582,711 shares of the industrial products company’s stock worth $20,238,000 after buying an additional 376,119 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in SiteOne Landscape Supply by 40.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 573,763 shares of the industrial products company’s stock worth $19,927,000 after buying an additional 166,162 shares during the period. 78.95% of the stock is currently owned by institutional investors and hedge funds.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.

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