Posted by admin on Jun 10th, 2022

Equities research analysts predict that SiteOne Landscape Supply, Inc. (NYSE:SITE – Get Rating) will announce $1.26 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for SiteOne Landscape Supply’s earnings, with the lowest sales estimate coming in at $1.23 billion and the highest estimate coming in at $1.30 billion. SiteOne Landscape Supply posted sales of $1.08 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.7%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that SiteOne Landscape Supply will report full year sales of $3.98 billion for the current financial year, with estimates ranging from $3.90 billion to $4.07 billion. For the next year, analysts anticipate that the firm will post sales of $4.21 billion, with estimates ranging from $4.06 billion to $4.39 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow SiteOne Landscape Supply.

SiteOne Landscape Supply (NYSE:SITE – Get Rating) last issued its earnings results on Wednesday, May 4th. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis.

A number of brokerages have recently commented on SITE. William Blair reissued an “outperform” rating on shares of SiteOne Landscape Supply in a report on Friday, March 11th. Loop Capital lowered their target price on SiteOne Landscape Supply from $190.00 to $170.00 and set a “hold” rating on the stock in a report on Thursday, April 7th. Zacks Investment Research lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Robert W. Baird lowered their target price on SiteOne Landscape Supply from $232.00 to $171.00 in a report on Thursday, May 5th. Finally, UBS Group upgraded SiteOne Landscape Supply from a “sell” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $165.00 in a research report on Monday, March 28th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $184.88.

Shares of SITE opened at $131.02 on Friday. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 22.83 and a beta of 1.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.89 and a current ratio of 2.32. SiteOne Landscape Supply has a one year low of $117.66 and a one year high of $260.00. The stock’s fifty day moving average is $139.75 and its 200-day moving average is $178.84.

In other news, CEO Doug Black sold 17,431 shares of SiteOne Landscape Supply stock in a transaction dated 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 directly owns 468,918 shares in the company, valued at approximately $69,925,052.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund increased its position in SiteOne Landscape Supply by 26.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 7,584 shares of the industrial products company’s stock worth $1,837,000 after buying an additional 1,583 shares during the period. Canada Pension Plan Investment Board boosted its stake in SiteOne Landscape Supply by 5,989.4% in the 4th quarter. Canada Pension Plan Investment Board now owns 25,393 shares of the industrial products company’s stock valued at $6,152,000 after buying an additional 24,976 shares in the last quarter. Verdence Capital Advisors LLC acquired a new stake in SiteOne Landscape Supply in the 4th quarter valued at $238,000. Confluence Wealth Services Inc. acquired a new stake in SiteOne Landscape Supply in the 4th quarter valued at $54,000. Finally, Lindenwold Advisors acquired a new position in SiteOne Landscape Supply in the fourth quarter worth $384,000.

SiteOne Landscape Supply Company Profile (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.

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