SiteOne Landscape Supply (NYSE:SITE) Upgraded at StockNews.com

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Tuesday.

Several other analysts also recently commented on SITE. 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 price objective on the stock. Robert W. Baird raised their price target on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Jefferies Financial Group raised SiteOne Landscape Supply from a "hold" rating to a "buy" rating and upped their price objective for the stock from $145.00 to $175.00 in a research note on Friday, December 6th. Finally, Barclays lifted their target price on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an "underweight" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $156.44.

SiteOne Landscape Supply Stock Performance

SITE traded down $2.22 during trading on Tuesday, hitting $145.48. The company's stock had a trading volume of 198,679 shares, compared to its average volume of 302,106. The business's 50 day simple moving average is $140.71 and its 200-day simple moving average is $141.36. The firm has a market cap of $6.56 billion, a PE ratio of 47.08 and a beta of 1.56. SiteOne Landscape Supply has a one year low of $114.60 and a one year high of $188.01. 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 (NYSE:SITE - Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.21). The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. SiteOne Landscape Supply's revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, sell-side analysts predict that SiteOne Landscape Supply will post 2.94 EPS for the current fiscal year.

Insider Activity

In other news, EVP Joseph Ketter sold 6,500 shares of SiteOne Landscape Supply stock in a transaction on Thursday, November 21st. The stock was 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 directly owns 12,942 shares in the company, valued at approximately $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SITE. Nomura Asset Management Co. Ltd. raised its holdings in 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 worth $32,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. raised its stake in shares of SiteOne Landscape Supply by 287.7% during the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company's stock worth $38,000 after acquiring an additional 187 shares in the last quarter. Trust Co. of Vermont lifted its position in SiteOne Landscape Supply by 657.9% during the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 250 shares during the last quarter. American National Bank & Trust acquired a new stake in SiteOne Landscape Supply in the third quarter valued at approximately $49,000. Finally, Quarry LP purchased a new position in SiteOne Landscape Supply in the second quarter worth $61,000.

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.