SiteOne Landscape Supply, Inc. (NYSE:SITE – Get Rating) – William Blair equity research analysts have reduced their third quarter 2022 EPS estimates for SiteOne Landscape Supply shares in a research note released to investors Thursday, June 23. William Blair analyst R. Merkel now expects the industrial products company to earn $1.83 per share for the quarter, down from its previous estimate of $1.84. William Blair currently has an “outperform” rating on the stock. SiteOne Landscape Supply’s current annual earnings consensus estimate is $5.71 per share. William Blair also released estimates for SiteOne Landscape Supply’s earnings for fiscal year 2022 at EPS $6.01.
Several other equity research analysts also weighed in on SITE. TheStreet downgraded shares of SiteOne Landscape Supply from a “b-” rating to a “c+” rating in a Wednesday, May 18 research note. UBS Group upgraded SiteOne Landscape Supply shares from a “sell” rating to a “neutral” rating and lowered its price target for the stock from $170.00 to $165.00 in a note. research on Monday, March 28. They noted that the move was a review call. StockNews.com began covering SiteOne Landscape Supply stocks in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Robert W. Baird lowered his price target on shares of SiteOne Landscape Supply from $232.00 to $171.00 in a Thursday, May 5 research note. Finally, Royal Bank of Canada upgraded shares of SiteOne Landscape Supply from an “underperforming” rating to an “sector outperforming” rating and lowered its price target for the company by $128.00. at $118.00 in a research note on Wednesday. Five investment analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $178.86.
SITE opened at $126.14 on Friday. The company has a market capitalization of $5.67 billion, a price-earnings ratio of 21.85 and a beta of 1.32. SiteOne Landscape Supply has a fifty-two week minimum of $108.77 and a fifty-two week maximum of $260.00. The company’s 50-day moving average price is $131.41 and its 200-day moving average price is $169.09. The company has a quick ratio of 0.89, a current ratio of 2.32 and a leverage ratio of 0.41.
SiteOne Landscape Supply (NYSE:SITE – Get Rating) last released quarterly earnings data on Wednesday, May 4. The industrial products company reported earnings per share of $0.70 for the quarter, beating the consensus estimate of $0.16 by $0.54. The company posted revenue of $805.30 million for the quarter, versus analyst estimates of $742.01 million. SiteOne Landscape Supply posted a net margin of 7.25% and a return on equity of 25.59%. SiteOne Landscape Supply quarterly revenue increased 23.9% year over year. In the same quarter of the previous year, the company had earned earnings per share of $0.16.
In other news, CEO Doug Black sold 17,431 shares in a trade that took place on Wednesday, April 13. The shares were sold at an average price of $149.12, for a total value of $2,599,310.72. Following completion of the transaction, the CEO now directly owns 468,918 shares of the company, valued at $69,925,052.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the shares are currently held by insiders of the company.
Several institutional investors have recently bought and sold shares of SITE. Allspring Global Investments Holdings LLC purchased a new stock position in SiteOne Landscape Supply in the fourth quarter, valued at approximately $192,495,000. Allianz Asset Management GmbH acquired a new stake in SiteOne Landscape Supply during the first quarter for a value of approximately $93,009,000. BlackRock Inc. increased its stake in SiteOne Landscape Supply by 17.4% during the first quarter. BlackRock Inc. now owns 3,394,331 shares of the industrial products company worth $548,828,000 after buying an additional 503,490 shares last quarter. Massachusetts Financial Services Co. MA acquired a new stake in SiteOne Landscape Supply during the fourth quarter for a value of approximately $71,647,000. Finally, Goldman Sachs Group Inc. increased its stake in SiteOne Landscape Supply by 82.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 589,599 shares of the industrial products company worth $142,848,000 after buying an additional 265,954 shares last quarter.
About SiteOne Landscape Supply (Get an assessment)
SiteOne Landscape Supply, Inc. is engaged in the wholesale distribution of landscape supplies in the United States and Canada. The company offers a selection of approximately 135,000 stocking units, including irrigation supplies, which include controllers, valves, sprinkler heads and irrigation hoses; fertilizers, grass seeds and de-icing products; control products, such as herbicides, fungicides, rodenticides and other pesticides; landscaping accessories including mulches, soil amendments, drainpipes, tools and sod; nursery stock, which consists of deciduous and evergreen shrubs, ornamentals, shade trees, evergreens, field and container grown nursery stock, roses, perennials, annuals, bulbs and plant species; landscaping, such as pavers, natural stones, blocks and other durable materials; and outdoor lighting products which include fixtures, LED lamps, wires, transformers and accessories.
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