SiteOne Landscape Supply (NYSE:SITE) Reaches New 12-Month Low on Analyst Downgrade

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s stock price hit a new 52-week low during mid-day trading on Tuesday after UBS Group lowered their price target on the stock from $190.00 to $185.00. UBS Group currently has a buy rating on the stock. SiteOne Landscape Supply traded as low as $115.09 and last traded at $115.49, with a volume of 113188 shares changing hands. The stock had previously closed at $116.31.

SITE has been the subject of several other reports. Robert W. Baird cut their target price on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Barclays cut their price objective on shares of SiteOne Landscape Supply from $133.00 to $129.00 and set an “underweight” rating for the company in a research report on Wednesday, June 5th. Stifel Nicolaus cut their price objective on shares of SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Loop Capital cut their price objective on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a research report on Thursday, June 13th. Finally, Truist Financial cut their price objective on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $151.75.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total value of $1,621,000.00. Following the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at $93,151,899.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SiteOne Landscape Supply

Several institutional investors have recently modified their holdings of the business. Toronto Dominion Bank acquired a new position in SiteOne Landscape Supply in the first quarter valued at $29,000. Principal Securities Inc. acquired a new position in SiteOne Landscape Supply in the fourth quarter valued at $31,000. GAMMA Investing LLC acquired a new position in SiteOne Landscape Supply in the fourth quarter valued at $38,000. Benjamin F. Edwards & Company Inc. lifted its holdings in SiteOne Landscape Supply by 588.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock valued at $50,000 after buying an additional 247 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new position in SiteOne Landscape Supply in the first quarter valued at $58,000.

SiteOne Landscape Supply Stock Up 3.9 %

The firm’s fifty day moving average price is $139.22 and its two-hundred day moving average price is $155.93. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 34.83 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.36 and a quick ratio of 0.96.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.22). The company had revenue of $904.80 million for the quarter, compared to analyst estimates of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. SiteOne Landscape Supply’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) EPS. Sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.81 earnings per share for the current fiscal year.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.