SiteOne Landscape Supply, Inc. SITE announced that its majority-owned joint venture, Devil Mountain Wholesale Nursery, acquired a wholesale distributor of nursery products — Pacific Nurseries. This move is in sync with SiteOne Landscape Supply and Devil Mountain’s growth strategies.

SiteOne Landscape Supply’s Focus on Expansion

Pacific Nurseries has one location in Colma, CA. This acquisition will enable SiteOne Landscape Supply and Devil Mountain to strategically expand their presence in the Bay Area. The addition of Pacific Nurseries will enhance the above-mentioned companies’ ability to serve combined customers, and provide a comprehensive range of landscape products and services across the United States and Canada.

SiteOne Landscape Supply has been active on the acquisition front in the past two years. The company completed seven acquisitions in 2024 and 11 in 2023. This spree reflects its ongoing expansion strategy to broaden its presence across various markets. SiteOne Landscape Supply purchased a majority stake in Devil Mountain in April 2024. This is Devil Mountain's first acquisition in 2025.

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 for EPS 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 15.6% over the past year against the industry’s 8.9% growth.

Image Source: Zacks Investment Research

SITE Zacks Rank & Stocks to Consider

SiteOne Landscape Supply currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks from the Industrial Products sector are Graham Corporation GHM, Federal Signal Corporation FSS and Gates Industrial Corporation plc GTES. GHM sports a Zacks Rank #1 (Strong Buy), and FSS and GTES 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 year-over-year growth of 145.2%. The company’s shares have gained 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 Gates Industrial’s 2024 earnings is pegged at $1.34 per share. The company delivered a trailing four-quarter average earnings surprise of 11.8%. GTES’s shares have gained 55.9% 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

Federal Signal Corporation (FSS) : Free Stock Analysis Report

Graham Corporation (GHM) : Free Stock Analysis Report

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

Gates Industrial Corporation PLC (GTES) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research