SITE Stock Fair Value – Truist Securities Analyst Upgrades SiteOne Landscape Supply Rating to Buy, Boosting Outlook for June 6, 2023
June 24, 2023
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SITEONE ($NYSE:SITE): SiteOne Landscape Supply is a leading distributor of landscape supplies in North America. The company offers a wide range of products, including plants, fertilizers, lawn care products, and irrigation systems for commercial and residential use. On June 6, 2023, Keith Hughes, an analyst from Truist Securities, raised the rating of SiteOne Landscape Supply to “Buy”. This announcement was met with much enthusiasm from investors, as the rating upgrade further strengthens the outlook for the company’s future performance.
The rating upgrade is expected to lead to higher demand for the company’s stock, which could further drive its share price up. Investors and analysts are optimistic about the company’s future growth and are hopeful that this will lead to increased returns in the future.
Price History
This news was welcomed by investors and sent the stock prices soaring. SiteOne Landscape Supply stock opened at $145.2 and closed at $151.4, a 6.1% increase from the last closing price of $142.7. The upgrade was reflective of the company’s strong financial performance over the past year and their promising prospects for the future. Investors were optimistic about the company’s ability to capitalize on the growth opportunities presented in the coming months and years. This positive news has provided further confidence in the sustainability of SiteOne Landscape Supply’s success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SITE. More…
| Total Revenues | Net Income | Net Margin |
| 4.05k | 208.6 | 5.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SITE. More…
| Operations | Investing | Financing |
| 182.9 | -283 | 96.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SITE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.83k | 1.53k | 28.96 |
Key Ratios Snapshot
Some of the financial key ratios for SITE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.0% | 32.2% | 7.2% |
| FCF Margin | ROE | ROA |
| 3.6% | 14.0% | 6.4% |
Analysis – SITE Stock Fair Value
At GoodWhale, we recently conducted an analysis of SITEONE LANDSCAPE SUPPLY’s wellbeing. We found that the intrinsic value of SITEONE LANDSCAPE SUPPLY share is around $183.6, calculated by our proprietary Valuation Line. This figure suggests that the stock is currently undervalued on the market, as it is currently traded at $151.4, which represents a 17.5% discount to its intrinsic value. Therefore, now could be a great time to invest in SITEONE LANDSCAPE SUPPLY stock. More…
Peers
The company offers a wide range of products, including irrigation supplies, nursery stock, landscape tools and accessories, and more. SiteOne Landscape Supply Inc competes with Hydrofarm Holdings Group Inc, MAX Co Ltd, Thorpe (F W) PLC, and others in the landscape supplies industry.
– Hydrofarm Holdings Group Inc ($NASDAQ:HYFM)
Hydrofarm Holdings Group Inc is a leading manufacturer and distributor of hydroponic equipment and supplies in the United States. The company has a market cap of 102.81M as of 2022 and a Return on Equity of -41.86%. Hydrofarm Holdings Group Inc is a publicly traded company on the NASDAQ stock exchange under the ticker symbol HYFG. The company’s products are used by commercial and hobbyist growers to produce fruits, vegetables, and herbs.
– MAX Co Ltd ($TSE:6454)
As of 2022, Daikin Industries, Ltd. has a market capitalization of 97.87 billion dollars and a return on equity of 7.15%. Daikin is a Japanese multinational air conditioning manufacturing company with headquarters in Osaka. The company makes a wide range of products including air conditioners, refrigerators, and chemicals. It also provides services such as installation, repair, and maintenance.
– Thorpe (F W) PLC ($LSE:TFW)
Thorpe (F W) PLC is a British engineering company. The company is headquartered in Derby, England. Thorpe (F W) PLC designs, manufactures, and supplies equipment and services for the rail, construction, and mining industries. The company’s products and services include locomotives, railway cars, and railway infrastructure. Thorpe (F W) PLC has a market cap of 474.63M as of 2022, a Return on Equity of 10.79%.
Summary
On June 6, 2023, Truist Securities analyst Keith Hughes upgraded SiteOne Landscape Supply’s rating to Buy. The announcement caused an immediate reaction in the stock price as investors responded positively to the upgraded rating. Hughes assessment was that SiteOne’s market position is strong and has significant potential for growth.
He believes that investors should take advantage of the current opportunity to purchase shares in the company and benefit from its future success. The upgrade and subsequent reaction from investors is a great sign for the future prospects of SiteOne Landscape Supply.
