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SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Rating) - Stock analysts at William Blair decreased their Q3 2022 earnings per share estimates for SiteOne Landscape Supply in a report released on Thursday, June 23rd. William Blair analyst R. Merkel now forecasts that the industrial products company will post earnings per share of $1.83 for the quarter, down from their previous forecast of $1.84. William Blair has a "Outperform" rating on the stock. The consensus estimate for SiteOne Landscape Supply's current full-year earnings is $5.71 per share. William Blair also issued estimates for SiteOne Landscape Supply's FY2022 earnings at $6.01 EPS.
Other equities analysts also recently issued reports about the company. UBS Group upgraded SiteOne Landscape Supply from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $170.00 to $165.00 in a research report on Monday, March 28th. They noted that the move was a valuation call. TheStreet downgraded SiteOne Landscape Supply from a "b-" rating to a "c+" rating in a research report on Wednesday, May 18th. Royal Bank of Canada upgraded SiteOne Landscape Supply from an "underperform" rating to a "sector perform" rating and lowered their price objective for the stock from $128.00 to $118.00 in a research report on Wednesday. StockNews.com initiated coverage on SiteOne Landscape Supply in a report on Thursday, March 31st. They issued a "hold" rating for the company. Finally, Robert W. Baird lowered their target price on SiteOne Landscape Supply from $232.00 to $171.00 in a report on Thursday, May 5th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $178.86.
Shares of SITE stock opened at $118.91 on Friday. The business's 50-day moving average price is $131.41 and its 200-day moving average price is $169.09. SiteOne Landscape Supply has a 12 month low of $108.77 and a 12 month high of $260.00. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 20.72 and a beta of 1.32. The company has a current ratio of 2.32, a quick ratio of 0.89 and a debt-to-equity ratio of 0.41. SiteOne Landscape Supply (NYSE:SITE - Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.54. SiteOne Landscape Supply had a return on equity of 25.59% and a net margin of 7.25%. The firm had revenue of $805.30 million for the quarter, compared to analyst estimates of $742.01 million. During the same period last year, the firm posted $0.16 earnings per share. The business's revenue for the quarter was up 23.9% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of the business. National Bank of Canada FI bought a new stake in shares of SiteOne Landscape Supply in the fourth quarter valued at $34,000. Catalyst Capital Advisors LLC raised its stake in shares of SiteOne Landscape Supply by 111.4% in the fourth quarter. Catalyst Capital Advisors LLC now owns 148 shares of the industrial products company's stock valued at $36,000 after buying an additional 78 shares during the period. Covestor Ltd bought a new stake in shares of SiteOne Landscape Supply in the fourth quarter valued at $38,000. Signaturefd LLC raised its stake in shares of SiteOne Landscape Supply by 1,156.3% in the first quarter. Signaturefd LLC now owns 201 shares of the industrial products company's stock valued at $32,000 after buying an additional 185 shares during the period. Finally, Confluence Wealth Services Inc. bought a new stake in shares of SiteOne Landscape Supply in the fourth quarter valued at $54,000.
In other news, CEO Doug Black sold 17,431 shares of the business's stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $149.12, for a total transaction of $2,599,310.72. Following the completion of the sale, the chief executive officer now owns 468,918 shares in the company, valued at $69,925,052.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company's stock.
About SiteOne Landscape Supply (Get Rating)
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 135,000 stock keeping units, including irrigation supplies, which comprise controllers, valves, sprinkler heads, and irrigation pipes; 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; 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.
Further ReadingGet a free copy of the StockNews.com research report on SiteOne Landscape Supply (SITE)Ciena Stock Giving Window of Opportunity Are These Cheap Copper Stocks Right For Your Portfolio?Zai Lab Stock Has Fallen to Value Levels It’s A Comfortable Time To Buy Steelcase Worthington Posts Strong Results, But Earnings Fall On One-Off Adjustments
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