SiteOne Landscape Supply (NYSE:SITE) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) had its target price boosted by analysts at Royal Bank of Canada from $129.00 to $136.00 in a report released on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the industrial products company's stock. Royal Bank of Canada's target price indicates a potential downside of 6.98% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a "hold" rating and set a $140.00 target price (down previously from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday, February 10th. Robert W. Baird dropped their target price on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday. StockNews.com upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Tuesday, January 28th. Barclays increased their target price on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an "underweight" rating in a research report on Thursday, October 31st. Finally, UBS Group decreased their price objective on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a "buy" rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $154.56.

SiteOne Landscape Supply Price Performance

Shares of SITE stock traded up $5.05 during mid-day trading on Thursday, reaching $146.21. The company's stock had a trading volume of 498,988 shares, compared to its average volume of 303,276. SiteOne Landscape Supply has a 1-year low of $114.60 and a 1-year high of $188.01. The company has a market cap of $6.60 billion, a P/E ratio of 47.32 and a beta of 1.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The firm's 50-day moving average is $138.07 and its two-hundred day moving average is $141.43.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.22). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. On average, research analysts predict that SiteOne Landscape Supply will post 2.94 earnings per share for the current year.

Insider Activity

In other news, EVP Joseph Ketter sold 6,500 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the transaction, the executive vice president now owns 12,942 shares of the company's stock, valued at approximately $1,840,352.40. This trade represents a 33.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Barclays PLC raised its position in shares of SiteOne Landscape Supply by 71.2% in the 3rd quarter. Barclays PLC now owns 48,398 shares of the industrial products company's stock valued at $7,304,000 after acquiring an additional 20,134 shares during the period. Holocene Advisors LP raised its position in shares of SiteOne Landscape Supply by 38.2% in the 3rd quarter. Holocene Advisors LP now owns 51,625 shares of the industrial products company's stock valued at $7,791,000 after acquiring an additional 14,269 shares during the period. Algert Global LLC raised its position in shares of SiteOne Landscape Supply by 375.4% in the 3rd quarter. Algert Global LLC now owns 29,506 shares of the industrial products company's stock valued at $4,453,000 after acquiring an additional 23,300 shares during the period. Janus Henderson Group PLC raised its position in shares of SiteOne Landscape Supply by 36.5% in the 3rd quarter. Janus Henderson Group PLC now owns 49,784 shares of the industrial products company's stock valued at $7,512,000 after acquiring an additional 13,314 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of SiteOne Landscape Supply by 16.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 35,269 shares of the industrial products company's stock valued at $5,322,000 after acquiring an additional 4,970 shares during the period.

About SiteOne Landscape Supply

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.