Fintel reports that on May 2, 2024, Stifel upgraded their outlook for SiteOne Landscape Supply (NYSE:SITE) from Hold to Buy.
Analyst Price Forecast Suggests 23.32% Upside
As of April 17, 2024, the average one-year price target for SiteOne Landscape Supply is 176.97. The forecasts range from a low of 146.45 to a high of $214.20. The average price target represents an increase of 23.32% from its latest reported closing price of 143.51.
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The projected annual revenue for SiteOne Landscape Supply is 4,241MM, a decrease of 2.92%. The projected annual non-GAAP EPS is 5.13.
What is the Fund Sentiment?
There are 761 funds or institutions reporting positions in SiteOne Landscape Supply. This is an decrease of 225 owner(s) or 22.82% in the last quarter. Average portfolio weight of all funds dedicated to SITE is 0.34%, an increase of 8.21%. Total shares owned by institutions decreased in the last three months by 25.19% to 56,101K shares. 
The put/call ratio of SITE is 1.32, indicating a bearish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 5,204K shares representing 11.52% ownership of the company. In its prior filing, the firm reported owning 6,231K shares , representing a decrease of 19.74%. The firm decreased its portfolio allocation in SITE by 23.87% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 3,384K shares representing 7.49% ownership of the company. In its prior filing, the firm reported owning 3,385K shares , representing a decrease of 0.02%. The firm decreased its portfolio allocation in SITE by 12.79% over the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 3,361K shares representing 7.44% ownership of the company. In its prior filing, the firm reported owning 4,431K shares , representing a decrease of 31.83%. The firm decreased its portfolio allocation in SITE by 28.89% over the last quarter.
Baillie Gifford holds 1,994K shares representing 4.41% ownership of the company. In its prior filing, the firm reported owning 2,126K shares , representing a decrease of 6.61%. The firm decreased its portfolio allocation in SITE by 62.51% over the last quarter.
Bamco holds 1,495K shares representing 3.31% ownership of the company. In its prior filing, the firm reported owning 1,421K shares , representing an increase of 5.00%. The firm decreased its portfolio allocation in SITE by 4.08% over the last quarter.
SiteOne Landscape Supply Background Information
(This description is provided by the company.)
SiteOne Landscape Supply (NYSE: SITE), is the largest and only national wholesale distributor of landscape supplies in the United States and has a growing presence in Canada. Its customers are primarily residential and commercial landscape professionals who specialize in the design, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces.
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