SiteOne Landscape Supply (SITE) PT Set at $85.00 by Royal Bank of Canada

SiteOne Landscape Supply (NYSE:SITE) received a $85.00 price target from research analysts at Royal Bank of Canada in a report released on Wednesday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 13.44% from the stock’s previous close.

SITE has been the topic of a number of other research reports. Zacks Investment Research raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays boosted their price objective on SiteOne Landscape Supply from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. William Blair raised SiteOne Landscape Supply from a “market perform” rating to an “outperform” rating in a research note on Friday, January 26th. Robert W. Baird boosted their price objective on SiteOne Landscape Supply from $58.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Finally, SunTrust Banks boosted their price objective on SiteOne Landscape Supply to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $71.00.

Shares of SiteOne Landscape Supply (SITE) opened at $74.93 on Wednesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.21 and a current ratio of 2.69. SiteOne Landscape Supply has a 12-month low of $37.97 and a 12-month high of $79.51. The company has a market capitalization of $2,963.10, a P/E ratio of 69.38 and a beta of 1.42.

In other news, EVP Ross Anker sold 17,113 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $71.75, for a total value of $1,227,857.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joseph Ketter sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $71.67, for a total value of $179,175.00. Following the completion of the transaction, the vice president now directly owns 7,716 shares in the company, valued at approximately $553,005.72. The disclosure for this sale can be found here. Insiders have sold 100,967 shares of company stock worth $7,138,256 in the last three months. 4.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in shares of SiteOne Landscape Supply by 54.0% in the 4th quarter. Renaissance Technologies LLC now owns 29,100 shares of the industrial products company’s stock valued at $2,232,000 after purchasing an additional 10,200 shares during the last quarter. Ranger Investment Management L.P. lifted its stake in shares of SiteOne Landscape Supply by 9.0% in the 4th quarter. Ranger Investment Management L.P. now owns 534,269 shares of the industrial products company’s stock valued at $40,978,000 after purchasing an additional 44,216 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of SiteOne Landscape Supply in the 4th quarter valued at $595,000. ETRADE Capital Management LLC acquired a new position in shares of SiteOne Landscape Supply in the 4th quarter valued at $304,000. Finally, Geode Capital Management LLC lifted its stake in shares of SiteOne Landscape Supply by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 313,089 shares of the industrial products company’s stock valued at $24,013,000 after purchasing an additional 1,234 shares during the last quarter.

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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.

Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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