Jefferies Financial Group Upgrades SiteOne Landscape Supply (NYSE:SITE) to Buy

Jefferies Financial Group upgraded shares of SiteOne Landscape Supply (NYSE:SITE - Free Report) from a hold rating to a buy rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has $175.00 target price on the industrial products company's stock, up from their previous target price of $145.00.

A number of other research analysts have also issued reports on the stock. Robert W. Baird raised their price objective on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Barclays raised their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an "underweight" rating in a report on Thursday, October 31st. StockNews.com upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group initiated coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They set a "neutral" rating and a $158.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $152.80.

SiteOne Landscape Supply Price Performance

Shares of SITE stock traded up $6.19 on Friday, reaching $151.05. The company had a trading volume of 391,044 shares, compared to its average volume of 280,863. The stock has a market capitalization of $6.82 billion, a PE ratio of 48.88 and a beta of 1.54. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply has a one year low of $114.60 and a one year high of $188.01. The business's 50-day moving average is $146.34 and its 200 day moving average is $140.29.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.18 by ($0.21). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The firm's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. Equities research analysts forecast that SiteOne Landscape Supply will post 3.41 EPS for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

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

Institutional Trading of SiteOne Landscape Supply

Several hedge funds have recently bought and sold shares of SITE. Nomura Asset Management Co. Ltd. lifted its stake in SiteOne Landscape Supply by 90.9% during the 3rd 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 in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in SiteOne Landscape Supply during the 2nd quarter valued at about $27,000. Blue Trust Inc. grew its holdings in SiteOne Landscape Supply by 287.7% during the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company's stock valued at $38,000 after buying an additional 187 shares in the last quarter. American National Bank & Trust purchased a new position in SiteOne Landscape Supply during the 3rd quarter valued at about $49,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of SiteOne Landscape Supply during the third quarter worth about $71,000.

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.