SiteOne Landscape Supply, Inc. (NYSE:SITE – Get Rating) – Equities researchers at Jefferies Financial Group raised their Q2 2022 earnings estimates for shares of SiteOne Landscape Supply in a note issued to investors on Wednesday, July 20th. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will post earnings of $2.92 per share for the quarter, up from their prior estimate of $2.75. The consensus estimate for SiteOne Landscape Supply’s current full-year earnings is $5.75 per share. Jefferies Financial Group also issued estimates for SiteOne Landscape Supply’s Q4 2022 earnings at $0.45 EPS, FY2023 earnings at $5.25 EPS and FY2024 earnings at $5.15 EPS.
SiteOne Landscape Supply (NYSE:SITE – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.54. The company had revenue of $805.30 million for the quarter, compared to the consensus estimate of $742.01 million. SiteOne Landscape Supply had a net margin of 7.25% and a return on equity of 25.59%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS.
SITE has been the topic of a number of other reports. Stifel Nicolaus initiated coverage on shares of SiteOne Landscape Supply in a report on Tuesday, July 12th. They issued a “hold” rating and a $105.00 price target on the stock. StockNews.com assumed coverage on shares of SiteOne Landscape Supply in a report on Thursday, March 31st. They set a “hold” rating on the stock. Barclays dropped their price objective on shares of SiteOne Landscape Supply from $161.00 to $145.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Royal Bank of Canada raised shares of SiteOne Landscape Supply from an “underperform” rating to a “sector perform” rating and dropped their price objective for the company from $128.00 to $118.00 in a report on Wednesday, June 22nd. Finally, Loop Capital dropped their price objective on shares of SiteOne Landscape Supply from $160.00 to $135.00 and set a “hold” rating on the stock in a report on Friday, July 8th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $154.25.
SiteOne Landscape Supply Price Performance
Shares of NYSE:SITE opened at $126.66 on Monday. The company’s 50-day moving average is $124.19 and its 200 day moving average is $151.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.89 and a current ratio of 2.32. The company has a market capitalization of $5.69 billion, a P/E ratio of 22.07 and a beta of 1.33. SiteOne Landscape Supply has a fifty-two week low of $108.77 and a fifty-two week high of $260.00.
Institutional Investors Weigh In On SiteOne Landscape Supply
Several hedge funds and other institutional investors have recently modified their holdings of SITE. Allspring Global Investments Holdings LLC bought a new position in shares of SiteOne Landscape Supply in the fourth quarter worth approximately $192,495,000. Allianz Asset Management GmbH bought a new position in shares of SiteOne Landscape Supply in the first quarter worth approximately $93,009,000. BlackRock Inc. increased its position in shares of SiteOne Landscape Supply by 17.4% in the first quarter. BlackRock Inc. now owns 3,394,331 shares of the industrial products company’s stock worth $548,828,000 after purchasing an additional 503,490 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of SiteOne Landscape Supply in the fourth quarter worth approximately $71,647,000. Finally, Goldman Sachs Group Inc. increased its position in shares of SiteOne Landscape Supply by 82.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 589,599 shares of the industrial products company’s stock worth $142,848,000 after purchasing an additional 265,954 shares during the last quarter.
Insider Activity
In other news, CEO Doug Black sold 9,530 shares of the company’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $119.13, for a total transaction of $1,135,308.90. Following the sale, the chief executive officer now directly owns 512,599 shares in the company, valued at $61,065,918.87. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.70% of the company’s stock.
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 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 Reading
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Source: defenseworld.net
