Barclays lowered the firm’s price target on SiteOne Landscape to $114 from $139 and keeps an Underweight rating on the shares post the Q3 report. The company’s Q3 gross margin shortfall coupled with an uncertain end market outlook leaves the firm cutting its below-consensus estimates further, the analyst tells investors in a research note. Barclays says a premium valuation coupled with further downside to consensus earnings expectations is a challenging setup for SiteOne.
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Read More on SITE:
- SiteOne Landscape sees FY23 adjusted EBITDA $400M-$410M
- SiteOne Landscape reports Q3 EPS $1.25, consensus $1.45
- SiteOne Landscape price target lowered to $153 from $185 at Stifel
- SiteOne Landscape price target lowered to $139 from $144 at Barclays
- SiteOne Landscape price target raised to $200 from $175 at Loop Capital
