SiteOne Landscape Supply Inc (NYSE:SITE) on Wednesday reported worse-than-expected second-quarter financial results.SiteOne Landscape Supply reported quarterly earnings of $3.14 per share which missed the analyst consensus estimate of $3.33 per share. The company reported quarterly sales of $1.531 billion which missed the analyst consensus estimate of $1.541 billion.“We delivered a solid second quarter performance with 5% growth in Net sales and Adjusted EBITDA despite softer end markets,” said Doug Black, Chairman and CEO of SiteOne. “Our teams executed well throughout the quarter, managing through the market challenges, delivering value to our customers and suppliers, achieving operational improvements, and managing our spending to the reduced demand.”SiteOne Landscape shares fell 1.1% to $92.80 in pre-market trading.These analysts made changes to their price targets on SiteOne Landscape following earnings announcement.
Stifel analyst W. Andrew Carter downgraded the stock from Buy to Hold and lowered the price target from $153 to $100.
Barclays analyst Matthew Bouley maintained the stock with an Equal-Weight rating and cut the price target from $129 to $108.
