SiteOne Landscape Supply (NYSE:SITE) Given New $106.00 Price Target at Barclays

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) had its target price lowered by research analysts at Barclays from $120.00 to $106.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the industrial products company's stock. Barclays's target price would indicate a potential downside of 6.60% from the company's previous close.

Several other brokerages have also recently commented on SITE. UBS Group lowered their price target on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of SiteOne Landscape Supply in a research note on Tuesday, April 1st. They issued a "hold" rating and a $135.00 price objective on the stock. 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, February 13th. Loop Capital reduced their price target on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Finally, StockNews.com upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Sunday, March 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $149.70.

Remove Ads

SiteOne Landscape Supply Trading Up 2.2 %

SITE traded up $2.44 during mid-day trading on Tuesday, reaching $113.49. The stock had a trading volume of 597,872 shares, compared to its average volume of 400,944. The firm's fifty day simple moving average is $125.97 and its two-hundred day simple moving average is $136.97. The stock has a market capitalization of $5.10 billion, a P/E ratio of 42.19 and a beta of 1.62. SiteOne Landscape Supply has a 52 week low of $101.25 and a 52 week high of $172.34. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. On average, equities analysts predict that SiteOne Landscape Supply will post 3.61 EPS for the current year.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of large investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. increased its position in shares of SiteOne Landscape Supply by 90.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Trust Co. of Vermont grew its stake in SiteOne Landscape Supply by 657.9% in the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 250 shares in the last quarter. Tortoise Investment Management LLC increased its position in shares of SiteOne Landscape Supply by 78.9% during the 4th quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company's stock worth $39,000 after purchasing an additional 131 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of SiteOne Landscape Supply during the 4th quarter worth approximately $40,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of SiteOne Landscape Supply by 395.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock valued at $45,000 after buying an additional 273 shares during the last quarter.

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.