SiteOne Landscape Supply, Inc. SITE announced that it acquired a wholesale distributor of hardscapes products, Custom Stone. This move positions SiteOne Landscape Supply as the leading provider of hardscapes in Austin, Dallas, Fort Worth and Houston, TX.

SiteOne Landscape Supply’s Focus on Expansion

Custom Stone is a wholesale distributor with six locations across high-growth Texas markets. The acquisition strengthens SITE’s leadership position in hardscapes across these high-growth markets.

This deal marks SiteOne Landscape Supply’s seventh acquisition in 2024 and second in December.

On Dec. 16, the company acquired a wholesale distributor of nursery products — OakStreet Wholesale Nursery. This transaction positions SITE as the leader of nursery products in the Dallas market.

The company made 11 acquisitions in 2023. This spree reflects its ongoing expansion strategy to broaden its presence across various markets.

SITE’s Q3 Performance

SiteOne Landscape Supply recorded an adjusted EPS of 97 cents in the third quarter of 2024, missing the Zacks Consensus Estimate of $1.18. The company posted earnings of $1.25 per share in the third quarter of 2023.

SITE registered revenues of $1.21 billion for the September-end quarter of 2024, surpassing the Zacks Consensus Estimate of $1.18 billion. The top line rose 2.4% year over year.

SiteOne Landscape Supply Stock’s Price Performance

Shares of the company have lost 18.5% over the past year against the industry’s 3.9% growth.

Image Source: Zacks Investment Research

SITE Zacks Rank & Stocks to Consider

SiteOne Landscape Supply currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the Industrial Products sector are Graham Corporation GHM, Federal Signal Corporation FSS and RBC Bearings Incorporated RBC. GHM sports a Zacks Rank #1 (Strong Buy), and FSS and RBC have a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.

Graham delivered an average trailing four-quarter earnings surprise of 101.85%. The Zacks Consensus Estimate for GHM’s 2024 earnings is pinned at $1.03 per share, which indicates a year-over-year surge of 145.2%. The company’s shares have soared 136.8% in a year.

Federal Signal delivered an average trailing four-quarter earnings surprise of 11.8%. The Zacks Consensus Estimate for FSS’s 2024 earnings is pinned at $3.34 per share, which indicates year-over-year growth of 29.5%. The company’s shares have gained 40% in a year.

The Zacks Consensus Estimate for RBC Bearings’ fiscal 2025 earnings is pegged at $9.80 per share. The company delivered a trailing four-quarter average earnings surprise of 2.5%. RBC’s shares have gained 37.5% in a year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

RBC Bearings Incorporated (RBC) : Free Stock Analysis Report

Federal Signal Corporation (FSS) : Free Stock Analysis Report

Graham Corporation (GHM) : Free Stock Analysis Report

SiteOne Landscape Supply, Inc. (SITE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research