SiteOne Landscape Supply (NYSE:SITE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday, Zacks.com reports. The firm currently has a $103.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.11% from the stock’s previous close.

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. “

Several other research firms have also issued reports on SITE. Royal Bank of Canada increased their target price on shares of SiteOne Landscape Supply to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. ValuEngine lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Berenberg Bank reissued a “hold” rating and issued a $70.00 target price on shares of SiteOne Landscape Supply in a report on Thursday, October 31st. Finally, SunTrust Banks increased their target price on shares of SiteOne Landscape Supply to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $74.57.

SiteOne Landscape Supply stock traded up $0.18 during midday trading on Thursday, hitting $91.06. The stock had a trading volume of 403,373 shares, compared to its average volume of 383,768. The firm’s fifty day moving average is $78.09 and its two-hundred day moving average is $72.03. The company has a market capitalization of $3.78 billion, a PE ratio of 52.64 and a beta of 1.05. SiteOne Landscape Supply has a 52-week low of $45.32 and a 52-week high of $92.32. The company has a current ratio of 2.44, a quick ratio of 1.11 and a debt-to-equity ratio of 1.99.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.07. The company had revenue of $652.80 million during the quarter, compared to analyst estimates of $642.97 million. SiteOne Landscape Supply had a net margin of 3.18% and a return on equity of 22.31%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. As a group, equities research analysts predict that SiteOne Landscape Supply will post 2 earnings per share for the current fiscal year.

In other SiteOne Landscape Supply news, VP Joseph Ketter sold 4,500 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $77.93, for a total transaction of $350,685.00. Following the completion of the sale, the vice president now directly owns 10,233 shares of the company’s stock, valued at approximately $797,457.69. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP L Briley Brisendine, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $90.37, for a total transaction of $903,700.00. Following the sale, the executive vice president now directly owns 28,336 shares of the company’s stock, valued at $2,560,724.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,500 shares of company stock valued at $2,031,185. Insiders own 4.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Capital Management Inc. ADV purchased a new stake in SiteOne Landscape Supply during the 3rd quarter valued at approximately $25,000. Captrust Financial Advisors purchased a new stake in SiteOne Landscape Supply during the 2nd quarter valued at approximately $40,000. Advisory Services Network LLC grew its holdings in SiteOne Landscape Supply by 40.1% during the 2nd quarter. Advisory Services Network LLC now owns 664 shares of the industrial products company’s stock valued at $46,000 after buying an additional 190 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in SiteOne Landscape Supply during the 2nd quarter valued at approximately $62,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in SiteOne Landscape Supply by 103.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,374 shares of the industrial products company’s stock valued at $95,000 after buying an additional 699 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.

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Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

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