SiteOne Landscape Supply (NYSE:SITE) Rating Lowered to Hold at Berenberg Bank

Berenberg Bank downgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a buy rating to a hold rating in a research report released on Wednesday, BenzingaRatingsTable reports.

A number of other research analysts have also recently commented on SITE. Royal Bank of Canada boosted their price target on SiteOne Landscape Supply to $68.00 and gave the stock a sector perform rating in a report on Thursday, August 1st. Robert W. Baird raised SiteOne Landscape Supply from a neutral rating to an outperform rating and boosted their price target for the stock from $64.00 to $77.00 in a report on Tuesday, June 25th. UBS Group set a $58.00 price target on SiteOne Landscape Supply and gave the stock a hold rating in a report on Friday, May 3rd. TheStreet raised SiteOne Landscape Supply from a c- rating to a b- rating in a report on Thursday, June 13th. Finally, Zacks Investment Research cut SiteOne Landscape Supply from a buy rating to a hold rating in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $76.90.

Shares of NYSE:SITE traded down $0.82 during mid-day trading on Wednesday, reaching $76.19. 296,592 shares of the company traded hands, compared to its average volume of 403,888. The stock’s 50 day simple moving average is $69.96. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 44.04 and a beta of 1.07. The company has a current ratio of 2.50, a quick ratio of 1.13 and a debt-to-equity ratio of 2.33. SiteOne Landscape Supply has a 52 week low of $45.32 and a 52 week high of $93.68.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.10). SiteOne Landscape Supply had a net margin of 3.08% and a return on equity of 22.24%. The company had revenue of $752.40 million for the quarter, compared to the consensus estimate of $774.03 million. During the same quarter last year, the firm posted $1.48 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that SiteOne Landscape Supply will post 1.62 EPS for the current year.

In other SiteOne Landscape Supply news, EVP Ross Anker sold 1,820 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $64.90, for a total value of $118,118.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John T. Guthrie sold 15,332 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.25, for a total value of $1,123,069.00. Following the completion of the transaction, the chief financial officer now directly owns 28,452 shares in the company, valued at approximately $2,084,109. The disclosure for this sale can be found here. Insiders have sold a total of 98,420 shares of company stock worth $6,736,075 in the last 90 days. 4.10% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. grew its position in SiteOne Landscape Supply by 55.0% in the 2nd quarter. Baillie Gifford & Co. now owns 4,017,424 shares of the industrial products company’s stock valued at $278,406,000 after acquiring an additional 1,425,508 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of SiteOne Landscape Supply by 22.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,968,964 shares of the industrial products company’s stock worth $169,676,000 after buying an additional 537,624 shares in the last quarter. Wasatch Advisors Inc. grew its position in shares of SiteOne Landscape Supply by 36.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,839,579 shares of the industrial products company’s stock worth $127,483,000 after buying an additional 488,656 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in shares of SiteOne Landscape Supply by 3.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,021,235 shares of the industrial products company’s stock worth $70,772,000 after buying an additional 30,630 shares in the last quarter. Finally, GW&K Investment Management LLC grew its position in shares of SiteOne Landscape Supply by 34.4% during the 2nd quarter. GW&K Investment Management LLC now owns 838,725 shares of the industrial products company’s stock worth $58,124,000 after buying an additional 214,636 shares in the last quarter.

About SiteOne Landscape Supply

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 120,000 stock keeping units, including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, outdoor lightings, and ice melt products, as well as hardscapes, such as pavers, natural stones, and blocks.

Further Reading: Trading Strategy Methods for Individual Investors

Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

Receive News & Ratings for SiteOne Landscape Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiteOne Landscape Supply and related companies with MarketBeat.com's FREE daily email newsletter.