SiteOne Landscape Supply (NYSE:SITE) Reaches New 1-Year Low – Here’s What Happened

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $110.76 and last traded at $111.74, with a volume of 142283 shares trading hands. The stock had previously closed at $122.65.

Analyst Upgrades and Downgrades

Several research firms have commented on SITE. Robert W. Baird lowered their target price on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and boosted their price target for the company from $145.00 to $175.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft started coverage on SiteOne Landscape Supply in a research note on Tuesday. They issued a “hold” rating and a $135.00 price objective on the stock. StockNews.com raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Sunday, March 16th. Finally, UBS Group decreased their target price on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $152.60.

SiteOne Landscape Supply Trading Down 6.6 %

The business’s 50 day simple moving average is $131.80 and its 200-day simple moving average is $139.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The stock has a market capitalization of $5.15 billion, a P/E ratio of 42.63 and a beta of 1.62.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. As a group, analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in SITE. Vanguard Group Inc. lifted its holdings in SiteOne Landscape Supply by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,162,578 shares of the industrial products company’s stock worth $548,503,000 after acquiring an additional 49,256 shares in the last quarter. Wasatch Advisors LP grew its position in shares of SiteOne Landscape Supply by 9.7% in the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company’s stock valued at $228,107,000 after purchasing an additional 153,447 shares during the period. Bamco Inc. NY increased its stake in SiteOne Landscape Supply by 4.6% during the 4th quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company’s stock worth $217,786,000 after purchasing an additional 72,430 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in SiteOne Landscape Supply by 6.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company’s stock worth $210,570,000 after buying an additional 91,719 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its stake in SiteOne Landscape Supply by 2.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,167,454 shares of the industrial products company’s stock valued at $153,835,000 after buying an additional 30,725 shares in the last quarter.

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.