SiteOne Landscape Supply (NYSE:SITE) Price Target Cut to $175.00 by Analysts at Robert W. Baird

SiteOne Landscape Supply (NYSE:SITE) had its price target lowered by research analysts at Robert W. Baird from $183.00 to $175.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price would indicate a potential upside of 27.80% from the company’s current price.

A number of other analysts also recently weighed in on SITE. Stifel Nicolaus reaffirmed a “hold” rating and issued a $140.00 target price (down from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday. Barclays upped their price objective 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. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and upped their price target for the stock from $145.00 to $175.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $154.44.

SiteOne Landscape Supply Trading Up 2.8 %

Shares of SITE opened at $136.93 on Thursday. SiteOne Landscape Supply has a 1-year low of $114.60 and a 1-year high of $188.01. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 44.31 and a beta of 1.57. The firm’s 50-day moving average price is $138.47 and its 200-day moving average price is $141.48. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly 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 return on equity of 9.21% and a net margin of 3.16%. Sell-side analysts anticipate that SiteOne Landscape Supply will post 2.94 EPS for the current year.

Insider Transactions at SiteOne Landscape Supply

In related news, EVP Joseph Ketter sold 6,500 shares of the 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 sale, the executive vice president now directly owns 12,942 shares of the company’s stock, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in shares of SiteOne Landscape Supply by 71.2% in the third quarter. Barclays PLC now owns 48,398 shares of the industrial products company’s stock worth $7,304,000 after acquiring an additional 20,134 shares during the period. Holocene Advisors LP grew its position in SiteOne Landscape Supply by 38.2% in the 3rd quarter. Holocene Advisors LP now owns 51,625 shares of the industrial products company’s stock worth $7,791,000 after purchasing an additional 14,269 shares during the period. Algert Global LLC grew its position in SiteOne Landscape Supply by 375.4% in the 3rd quarter. Algert Global LLC now owns 29,506 shares of the industrial products company’s stock worth $4,453,000 after purchasing an additional 23,300 shares during the period. Janus Henderson Group PLC raised its stake in SiteOne Landscape Supply by 36.5% during the 3rd quarter. Janus Henderson Group PLC now owns 49,784 shares of the industrial products company’s stock valued at $7,512,000 after buying an additional 13,314 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of SiteOne Landscape Supply by 16.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 35,269 shares of the industrial products company’s stock valued at $5,322,000 after buying an additional 4,970 shares during the period.

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.