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SITE

SiteOne Landscape

$80.40

-0.84 (-1.03%)

09:24
09/25/18
09/25
09:24
09/25/18
09:24

SiteOne Landscape pullback a buying opportunity, says William Blair

William Blair analyst Ryan Merkel views the 14% pullback in shares of SiteOne Landscape Supply over the past two weeks as a buying opportunity. The analyst says he's not heard of a compelling explanation for the weakness. The soft August existing home sales report is the main worry, and a competitor report highlighting the shortage of H-2B visas, while not new news, could also be a concern, Merkel tells investors in a research note. The analyst calls the selloff overdone and recommends buying "this rare 20% compounder story." Housing data is always choppy and there is still a shortage of homes for sale, with supply at 4.3 months, Merkel points out. He keeps an Outperform rating on SiteOne Landscape.

SITE SiteOne Landscape
$80.40

-0.84 (-1.03%)

03/29/18
WBLR
03/29/18
NO CHANGE
WBLR
Outperform
SiteOne bull case represents 36% share upside, says William Blair
After traveling with SiteOne Landscape management, William Blair analyst Ryan Merkel says, "Our confidence in the long-term opportunity increases every time we hear the story." The company is still "very early in its evolution to become a world-class distributor," Merkel tells investors in a research note. He sees see 36% upside in the shares to $100, which is based on a "bull case" EBITDA of $300M in 2020 at 15 times. The analyst keeps an Outperform rating on SiteOne.
06/27/18
RBCM
06/27/18
NO CHANGE
Target $110
RBCM
Outperform
SiteOne Landscape price target raised to $110 from $87 at RBC Capital
RBC Capital analyst Michael Eisen raised his price target on SiteOne Landscape to $110 and kept his Outperform rating, saying its M&A contribution of over $100M will add to "modest organic growth levels". The analyst says he is positive on the company's position as the only national competitor in the industry with accelerating pace of M&A, which can allow it to support growth without adding to debt.
07/03/18
BARD
07/03/18
DOWNGRADE
BARD
Neutral
SiteOne Landscape downgraded to Neutral from Outperform at Baird
07/03/18
BARD
07/03/18
DOWNGRADE
BARD
Baird downgrades industrial and building distributors as cyclical risks rise
As previously reported, Baird analyst David Manthey downgraded several industrial supply distributors and building products distributors based on elevated later-cycle risks. The analyst thinks the cycle and individual company results could remain solid for quarters or years to come, but he believes the cycle is in its later stages, thereby elevating risks to gross margins, rising labor costs, and earnings deceleration in 2019. Manthey downgraded Watsco (WSO), SiteOne Landscape (SITE), Pool (POOL), Fastenal (FAST), BMC Stock Holdings (BMCH), Grainger (GWW) and GMS (GMS), all to Neutral from Outperform. He lowered his price target on Grainger to $318 from $327 and also lowered his price target on Beacon Roofing (BECN) to $59 from $68. However, Manthey said Beacon, on which he kept an Outperform rating, remains a Fresh Pick and his top tactical idea.

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