Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Siteone Landscape Supply / Equity Bottom-Up

<ul><li>SiteOne Landscape Supply reported mixed results for its second quarter of 2024, showcasing a combination of slight setbacks in organic sales growth against strategic gains through acquisitions and operational enhancements.</li><li>The company, which is a leading wholesale distributor of landscaping products, is dealing with a softer demand landscape influenced by a tepid repair and upgrade market and noticeable commodity price deflation in specific segments such as grass seed and PVC pipe.</li><li>The management anticipates these trends to persist throughout the year, which they expect will impact organic sales growth and adjusted EBITDA margin negatively.</li></ul>

SiteOne Landscape Supply reported mixed results for its second quarter of 2024, showcasing a combination of slight setbacks in organic sales growth against strategic gains through acquisitions and operational enhancements.The company, which is a leading wholesale distributor of landscaping products, is dealing with a softer demand landscape influenced by a tepid repair and upgrade market and noticeable commodity price deflation in specific segments such as grass seed and PVC pipe.The management anticipates these trends to persist throughout the year, which they expect will impact organic sales growth and adjusted EBITDA margin negatively.

SiteOne Landscape Supply: Enhancing Market Position Through Acquisitions & Product Diversification! - Major Drivers

<ul><li>SiteOne Landscape Supply, Inc. reported its first quarter results for the fiscal year 2024, which were met with mixed outcomes as the company navigated through various market challenges such as commodity price deflation and adverse weather impacts in some markets.</li><li>Despite these challenges, the company managed to post an 8% increase in net sales, demonstrating resilience in its operational strategy and a boosted performance through recent acquisitions.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

SiteOne Landscape Supply, Inc. reported its first quarter results for the fiscal year 2024, which were met with mixed outcomes as the company navigated through various market challenges such as commodity price deflation and adverse weather impacts in some markets.Despite these challenges, the company managed to post an 8% increase in net sales, demonstrating resilience in its operational strategy and a boosted performance through recent acquisitions.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

SiteOne Landscape Supply Inc.: A Tale Of Market Share Expansion and Diverse End Markets! - Major Drivers

<ul><li>SiteOne Landscape Supply Inc. ended the year 2023 with notable growth in their 4th quarter, coupled with a modest increase in adjusted EBITDA, an 8% growth in net sales, and a record operating cash flow.</li><li>The company also made 11 acquisitions, adding companies with strong customer relationships while also expanding their product lines.</li><li>However, 2023 presented some challenges including lower market demand, mounting operating costs, gross margin normalization, and commodity price deflation.</li></ul>

SiteOne Landscape Supply Inc. ended the year 2023 with notable growth in their 4th quarter, coupled with a modest increase in adjusted EBITDA, an 8% growth in net sales, and a record operating cash flow.The company also made 11 acquisitions, adding companies with strong customer relationships while also expanding their product lines.However, 2023 presented some challenges including lower market demand, mounting operating costs, gross margin normalization, and commodity price deflation.

SiteOne Landscape Supply Inc.: Initiation Of Coverage - Strategic Acquisitions & 3 Other Fundamental Aspects Fueling Its Growth! - Financial Forecasts

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>New developments outlined in today’s report are of the bullish variety. The way we see it, the positives continue to heavily outweigh the negatives. With positive new developments and essentially nothing new to be worried about, our view remains bullish. Buy the dips. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Materials: CD-46 Retailers, Home Improvement, CD-30 Internet Retailers, CD-55 Lawn &amp; Garden, and MA-27 Gold, Western Hemisphere, Small-Cap.</p>

New developments outlined in today’s report are of the bullish variety. The way we see it, the positives continue to heavily outweigh the negatives. With positive new developments and essentially nothing new to be worried about, our view remains bullish. Buy the dips. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Materials: CD-46 Retailers, Home Improvement, CD-30 Internet Retailers, CD-55 Lawn &amp; Garden, and MA-27 Gold, Western Hemisphere, Small-Cap.

United States

SiteOne Landscape Supply, Inc. distributes landscape supplies. The Company offers products such as outdoor lighting, fertilizers, grass seeds, turf care equipment, and golf course accessories. SiteOne Landscape Supply markets its products in the United States and Canada.

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Siteone Landscape Supply (SITE US)

SiteOne Landscape Supply: Enhancing Market Position Through Acquisitions & Product Diversification! - Major Drivers

SiteOne Landscape Supply reported mixed results for its second quarter of 2024, showcasing a combination of slight setbacks in organic sales...

Baptista Research

SiteOne Landscape Supply Inc.: Initiation Of Coverage - Strategic Acquisitions & 3 Other Fundamental Aspects Fueling Its Growth! - Financial Forecasts

SiteOne Landscape Supply Inc. ended the year 2023 with notable growth in their 4th quarter, coupled with a modest increase in adjusted EBITDA, an...

Baptista Research

U.S. Equity Strategy: Buy The Dips

New developments outlined in today’s report are of the bullish variety. The way we see it, the positives continue to heavily outweigh the...

Vermilion Research

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SiteOne Landscape Supply: Enhancing Market Position Through Acquisitions & Product Diversification! - Major Drivers

SiteOne Landscape Supply reported mixed results for its second quarter of 2024, showcasing a combination of slight setbacks in organic sales...

Baptista Research

SiteOne Landscape Supply Inc.: A Tale Of Market Share Expansion and Diverse End Markets! - Major Drivers

SiteOne Landscape Supply, Inc. reported its first quarter results for the fiscal year 2024, which were met with mixed outcomes as the company...

Baptista Research

SiteOne Landscape Supply Inc.: Initiation Of Coverage - Strategic Acquisitions & 3 Other Fundamental Aspects Fueling Its Growth! - Financial Forecasts

SiteOne Landscape Supply Inc. ended the year 2023 with notable growth in their 4th quarter, coupled with a modest increase in adjusted EBITDA, an...

Baptista Research

U.S. Equity Strategy: Buy The Dips

New developments outlined in today’s report are of the bullish variety. The way we see it, the positives continue to heavily outweigh the...

Vermilion Research