Robert W. Baird Issues Pessimistic Forecast for SiteOne Landscape Supply (NYSE:SITE) Stock Price

SiteOne Landscape Supply (NYSE:SITE - Free Report) had its target price trimmed by Robert W. Baird from $183.00 to $175.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company's stock.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and upped their price objective for the company from $145.00 to $175.00 in a research note on Friday, December 6th. Barclays lifted their price objective 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. Stifel Nicolaus restated a "hold" rating and set a $140.00 price target (down previously from $145.00) on shares of SiteOne Landscape Supply in a research note on Monday, February 10th. Finally, StockNews.com raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, SiteOne Landscape Supply has an average rating of "Hold" and a consensus price target of $154.56.

SiteOne Landscape Supply Stock Up 3.6 %

Shares of SITE traded up $5.05 during trading hours on Thursday, reaching $146.21. 498,988 shares of the stock traded hands, compared to its average volume of 303,276. SiteOne Landscape Supply has a 52 week low of $114.60 and a 52 week high of $188.01. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 47.32 and a beta of 1.57. The stock has a fifty day simple moving average of $138.07 and a 200 day simple moving average of $141.43. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) EPS for the quarter, missing the consensus estimate 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, equities analysts forecast that SiteOne Landscape Supply will post 2.94 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Joseph Ketter sold 6,500 shares of the 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 sale, the executive vice president now directly owns 12,942 shares of the company's stock, valued at approximately $1,840,352.40. This represents a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its position in shares of SiteOne Landscape Supply by 71.2% during 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 last quarter. Holocene Advisors LP grew its position in SiteOne Landscape Supply by 38.2% in the third quarter. Holocene Advisors LP now owns 51,625 shares of the industrial products company's stock worth $7,791,000 after acquiring an additional 14,269 shares in the last quarter. Algert Global LLC increased its stake in SiteOne Landscape Supply by 375.4% in the third 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 last quarter. Janus Henderson Group PLC raised its position in SiteOne Landscape Supply by 36.5% during the third quarter. Janus Henderson Group PLC now owns 49,784 shares of the industrial products company's stock valued at $7,512,000 after purchasing an additional 13,314 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings 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 worth $5,322,000 after purchasing an additional 4,970 shares in the last quarter.

SiteOne Landscape Supply Company Profile

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.