Zacks Investment Research Lowers SiteOne Landscape Supply (NYSE:SITE) to Hold

Zacks Investment Research downgraded shares of SiteOne Landscape Supply (NYSE:SITEGet Rating) from a strong-buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “SiteOne Landscape Supply, Inc. is a wholesale distributor of landscape supplies primarily in the United States. It provides irrigation supplies; fertilizer and control products such as herbicides; landscape accessories; turf protection products; grass seed; turf care equipment and golf course maintenance supplies and nursery goods as well as hardscapes, including pavers, natural stones, and blocks; outdoor lighting and ice melt products, as well as related value-added consultative services. SiteOne Landscape Supply, Inc. is headquartered in Roswell, Georgia. “

Other analysts also recently issued research reports about the company. UBS Group raised SiteOne Landscape Supply from a sell rating to a neutral rating and dropped their price target for the company from $170.00 to $165.00 in a research note on Monday, March 28th. They noted that the move was a valuation call. Barclays dropped their price target on SiteOne Landscape Supply from $200.00 to $191.00 in a research note on Thursday, March 31st. William Blair reissued an outperform rating on shares of SiteOne Landscape Supply in a research note on Friday, March 11th. Loop Capital dropped their price target on SiteOne Landscape Supply from $190.00 to $170.00 and set a hold rating on the stock in a research note on Thursday, April 7th. Finally, Truist Financial dropped their price target on SiteOne Landscape Supply from $275.00 to $200.00 and set a hold rating on the stock in a research note on Thursday, February 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $197.75.

Shares of SiteOne Landscape Supply stock opened at $144.24 on Wednesday. The company has a market capitalization of $6.47 billion, a PE ratio of 27.74 and a beta of 1.30. SiteOne Landscape Supply has a 12 month low of $142.88 and a 12 month high of $260.00. The company has a current ratio of 2.20, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $164.78 and its 200 day simple moving average is $200.77.

SiteOne Landscape Supply (NYSE:SITEGet Rating) last issued its quarterly earnings data on Wednesday, February 16th. The industrial products company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.33. The business had revenue of $805.20 million for the quarter, compared to the consensus estimate of $744.09 million. SiteOne Landscape Supply had a return on equity of 24.95% and a net margin of 6.86%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Analysts predict that SiteOne Landscape Supply will post 5.41 EPS for the current fiscal year.

In other news, CEO Doug Black sold 17,365 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $175.78, for a total value of $3,052,419.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 52,193 shares of company stock valued at $8,426,900 in the last 90 days. 2.70% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI bought a new position in SiteOne Landscape Supply during the fourth quarter worth about $34,000. Liberty Wealth Management LLC grew its holdings in SiteOne Landscape Supply by 1,053.8% during the third quarter. Liberty Wealth Management LLC now owns 150 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 137 shares during the period. Catalyst Capital Advisors LLC grew its holdings in SiteOne Landscape Supply by 111.4% during the fourth quarter. Catalyst Capital Advisors LLC now owns 148 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 78 shares during the period. Covestor Ltd bought a new position in SiteOne Landscape Supply during the fourth quarter worth about $38,000. Finally, Confluence Wealth Services Inc. bought a new position in SiteOne Landscape Supply during the fourth quarter worth about $54,000.

SiteOne Landscape Supply Company Profile (Get Rating)

SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 135,000 stock keeping units, including irrigation supplies, which comprise controllers, valves, sprinkler heads, and irrigation pipes; 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; 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.

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