SiteOne Landscape Supply (NYSE:SITE) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a sell rating in a research report sent to investors on Monday.

SITE has been the subject of several other reports. Barclays upped their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and upped their price objective for the company from $145.00 to $175.00 in a report on Friday, December 6th. Robert W. Baird raised their target price on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group started coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $156.44.

SiteOne Landscape Supply Stock Up 3.0 %

SITE stock opened at $143.00 on Monday. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply has a twelve month low of $114.60 and a twelve month high of $188.01. The business’s 50-day moving average price is $140.46 and its 200-day moving average price is $140.52. The stock has a market cap of $6.45 billion, a P/E ratio of 46.28 and a beta of 1.56.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that SiteOne Landscape Supply will post 2.94 EPS for the current year.

Insider Buying and Selling

In other news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the sale, the executive vice president now directly owns 12,942 shares of the company’s stock, valued at approximately $1,840,352.40. This represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Institutional investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its holdings in SiteOne Landscape Supply by 90.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Blue Trust Inc. raised its position in shares of SiteOne Landscape Supply by 287.7% in the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after buying an additional 187 shares during the last quarter. Trust Co. of Vermont boosted its stake in SiteOne Landscape Supply by 657.9% in the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after buying an additional 250 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of SiteOne Landscape Supply during the 3rd quarter valued at $49,000. Finally, Quarry LP acquired a new position in shares of SiteOne Landscape Supply in the 2nd quarter valued at about $61,000.

SiteOne Landscape Supply Company Profile

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.