SiteOne Landscape Supply, Inc. (SITE) Upgraded to Buy by BidaskClub
SiteOne Landscape Supply, Inc. (NYSE:SITE) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
A number of other research analysts have also commented on the company. Johnson Rice started coverage on SiteOne Landscape Supply in a report on Monday, May 15th. They set an “accumulate” rating on the stock. Deutsche Bank AG reissued a “buy” rating and set a $60.00 price target (up from $55.00) on shares of SiteOne Landscape Supply in a report on Thursday, August 10th. Zacks Investment Research lowered SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $63.00 price target on shares of SiteOne Landscape Supply in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $54.50.
SiteOne Landscape Supply (NYSE:SITE) opened at 51.63 on Friday. The stock’s 50 day moving average is $51.15 and its 200-day moving average is $48.92. SiteOne Landscape Supply has a 1-year low of $26.60 and a 1-year high of $53.87. The firm has a market capitalization of $2.05 billion, a PE ratio of 48.25 and a beta of 2.07.
SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by $0.04. The business had revenue of $608.60 million for the quarter, compared to analyst estimates of $607.94 million. SiteOne Landscape Supply had a net margin of 2.46% and a return on equity of 27.37%. SiteOne Landscape Supply’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the business posted ($3.18) earnings per share. Equities research analysts forecast that SiteOne Landscape Supply will post $1.31 EPS for the current year.
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Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in SiteOne Landscape Supply by 4.2% during the first quarter. JPMorgan Chase & Co. now owns 16,867 shares of the industrial products company’s stock worth $817,000 after acquiring an additional 683 shares during the period. American International Group Inc. grew its holdings in SiteOne Landscape Supply by 7.1% during the first quarter. American International Group Inc. now owns 7,165 shares of the industrial products company’s stock worth $347,000 after acquiring an additional 473 shares during the period. Goldman Sachs Group Inc. acquired a new position in SiteOne Landscape Supply during the first quarter worth about $4,862,000. Boston Advisors LLC acquired a new position in SiteOne Landscape Supply during the second quarter worth about $896,000. Finally, Bank of New York Mellon Corp grew its holdings in SiteOne Landscape Supply by 154.2% during the first quarter. Bank of New York Mellon Corp now owns 192,159 shares of the industrial products company’s stock worth $9,303,000 after acquiring an additional 116,564 shares during the period.
SiteOne Landscape Supply Company Profile
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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