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

SiteOne Landscape Supply (NYSE:SITE) had its target price upped by Royal Bank of Canada from $129.00 to $136.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 3.44% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Barclays raised their target price on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. UBS Group cut their price target 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. Robert W. Baird lowered their price objective on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday. StockNews.com raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $140.00 price target (down previously from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus price target of $154.56.

SiteOne Landscape Supply Trading Up 2.9 %

NYSE SITE traded up $3.97 during trading on Thursday, hitting $140.85. 259,877 shares of the company’s stock traded hands, compared to its average volume of 352,078. The stock has a fifty day moving average of $138.24 and a two-hundred day moving average of $141.45. SiteOne Landscape Supply has a 12-month low of $114.60 and a 12-month high of $188.01. The firm has a market cap of $6.35 billion, a P/E ratio of 45.58 and a beta of 1.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. As a group, sell-side analysts expect that SiteOne Landscape Supply will post 2.94 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Joseph Ketter sold 6,500 shares of SiteOne Landscape Supply stock in a transaction that occurred 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 sale, the executive vice president now directly owns 12,942 shares in the company, valued at $1,840,352.40. The trade was a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in SITE. Tidal Investments LLC increased its stake in shares of SiteOne Landscape Supply by 1.5% in the 3rd quarter. Tidal Investments LLC now owns 5,166 shares of the industrial products company’s stock worth $780,000 after acquiring an additional 77 shares in the last quarter. Arizona State Retirement System boosted its position in shares of SiteOne Landscape Supply by 0.6% in the 4th quarter. Arizona State Retirement System now owns 13,096 shares of the industrial products company’s stock worth $1,726,000 after purchasing an additional 77 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in shares of SiteOne Landscape Supply by 4.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,037 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 78 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of SiteOne Landscape Supply by 90.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after buying an additional 100 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its position in SiteOne Landscape Supply by 6.1% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,842 shares of the industrial products company’s stock valued at $278,000 after buying an additional 106 shares in 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.