William Blair Equities Analysts Raise Earnings Estimates for SiteOne Landscape Supply, Inc. (NYSE:SITE)

SiteOne Landscape Supply, Inc. (NYSE:SITE) – Research analysts at William Blair raised their Q2 2024 earnings estimates for shares of SiteOne Landscape Supply in a research note issued to investors on Wednesday, May 1st. William Blair analyst R. Merkel now forecasts that the industrial products company will earn $2.97 per share for the quarter, up from their previous estimate of $2.91. The consensus estimate for SiteOne Landscape Supply’s current full-year earnings is $4.00 per share.

SITE has been the topic of a number of other research reports. Robert W. Baird raised their price objective on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Stifel Nicolaus raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and cut their price objective for the company from $167.00 to $165.00 in a report on Thursday. Truist Financial decreased their price objective on shares of SiteOne Landscape Supply from $204.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada raised their target price on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Finally, Loop Capital cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $167.50.

SiteOne Landscape Supply Stock Up 1.4 %

SiteOne Landscape Supply stock opened at $152.42 on Thursday. The business’s 50-day moving average price is $169.37 and its 200 day moving average price is $156.71. The company has a quick ratio of 1.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.29. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 44.18 and a beta of 1.53. SiteOne Landscape Supply has a 52 week low of $116.81 and a 52 week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.22). The business had revenue of $904.80 million during the quarter, compared to analysts’ expectations of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. SiteOne Landscape Supply’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share.

Insider Transactions at SiteOne Landscape Supply

In other news, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total transaction of $1,763,500.00. Following the completion of the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at $101,340,761.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total value of $1,763,500.00. Following the transaction, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at approximately $101,340,761.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John T. Guthrie sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the transaction, the chief financial officer now owns 15,467 shares in the company, valued at $2,784,060. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock valued at $3,924,500 over the last ninety days. Insiders own 2.70% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

Several large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its stake in shares of SiteOne Landscape Supply by 1.5% in the 3rd quarter. Northern Trust Corp now owns 221,336 shares of the industrial products company’s stock valued at $36,177,000 after buying an additional 3,301 shares during the period. WCM Investment Management LLC increased its stake in SiteOne Landscape Supply by 33.4% during the fourth quarter. WCM Investment Management LLC now owns 33,429 shares of the industrial products company’s stock worth $5,483,000 after acquiring an additional 8,379 shares during the last quarter. Handelsbanken Fonder AB increased its stake in SiteOne Landscape Supply by 10.8% during the fourth quarter. Handelsbanken Fonder AB now owns 229,237 shares of the industrial products company’s stock worth $37,251,000 after acquiring an additional 22,400 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in SiteOne Landscape Supply in the third quarter valued at $1,826,000. Finally, Trexquant Investment LP acquired a new position in shares of SiteOne Landscape Supply in the 3rd quarter valued at $4,060,000.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; 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 and cultivars; 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.