SiteOne Landscape Supply (NYSE:SITE) Downgraded to Hold at Stifel Nicolaus

Stifel Nicolaus cut shares of SiteOne Landscape Supply (NYSE:SITE) from a buy rating to a hold rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has $150.00 price target on the industrial products company’s stock.

Several other research analysts have also recently weighed in on SITE. Jefferies Financial Group lowered their price target on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a hold rating on the stock in a report on Thursday, July 11th. Truist Financial lowered their price target on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a buy rating on the stock in a report on Thursday, June 6th. Barclays lowered their price target on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an underweight rating on the stock in a report on Friday, July 12th. UBS Group lowered their target price on shares of SiteOne Landscape Supply from $190.00 to $185.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Finally, Robert W. Baird lowered their target price on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an outperform rating on the stock in a report on Wednesday, June 5th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $144.33.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock traded down $7.99 on Thursday, reaching $131.60. The stock had a trading volume of 417,278 shares, compared to its average volume of 385,410. The company has a quick ratio of 0.96, a current ratio of 2.36 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average is $133.97 and its two-hundred day moving average is $153.72. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 38.14 and a beta of 1.52. SiteOne Landscape Supply has a 12 month low of $114.60 and a 12 month high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.13. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 10.42%. SiteOne Landscape Supply’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 EPS. On average, research analysts expect that SiteOne Landscape Supply will post 3.65 EPS for the current fiscal year.

Institutional Trading of SiteOne Landscape Supply

A number of hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its holdings in shares of SiteOne Landscape Supply by 47.8% during the first quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock worth $172,211,000 after purchasing an additional 319,071 shares during the period. Jackson Square Partners LLC lifted its holdings in shares of SiteOne Landscape Supply by 25.6% during the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock worth $131,588,000 after purchasing an additional 165,067 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of SiteOne Landscape Supply by 49.3% during the second quarter. Bank of New York Mellon Corp now owns 479,581 shares of the industrial products company’s stock worth $58,226,000 after purchasing an additional 158,350 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of SiteOne Landscape Supply by 100.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 255,922 shares of the industrial products company’s stock worth $41,587,000 after purchasing an additional 128,076 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in shares of SiteOne Landscape Supply during the first quarter worth $21,860,000.

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.