SiteOne Landscape Supply (SITE) Hits New 1-Year Low on Insider Selling

SiteOne Landscape Supply Inc (NYSE:SITE)’s share price hit a new 52-week low during trading on Monday following insider selling activity. The company traded as low as $57.03 and last traded at $56.88, with a volume of 31185 shares. The stock had previously closed at $57.83.

Specifically, EVP L Briley Brisendine, Jr. sold 1,600 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $90.65, for a total value of $145,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Doug Black sold 12,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $87.02, for a total value of $1,044,240.00. Following the completion of the sale, the chief executive officer now owns 398,228 shares of the company’s stock, valued at $34,653,800.56. The disclosure for this sale can be found here. Insiders have sold a total of 88,700 shares of company stock worth $6,579,665 over the last three months. 4.40% of the stock is owned by insiders.

SITE has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on SiteOne Landscape Supply in a research note on Friday, October 12th. They issued a “buy” rating and a $80.00 price target for the company. Royal Bank of Canada set a $88.00 price target on SiteOne Landscape Supply and gave the company a “buy” rating in a research note on Thursday, November 1st. They noted that the move was a valuation call. ValuEngine downgraded SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Goldman Sachs Group initiated coverage on SiteOne Landscape Supply in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $111.00 price target for the company. Finally, UBS Group upgraded SiteOne Landscape Supply from a “sell” rating to a “neutral” rating and set a $75.00 price target for the company in a research note on Thursday, October 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $80.33.

The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 47.11 and a beta of 1.52. The company has a quick ratio of 1.29, a current ratio of 2.72 and a debt-to-equity ratio of 1.90.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, October 31st. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.02). The company had revenue of $578.50 million for the quarter, compared to the consensus estimate of $590.23 million. SiteOne Landscape Supply had a net margin of 3.90% and a return on equity of 31.11%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. As a group, equities analysts expect that SiteOne Landscape Supply Inc will post 1.97 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Synovus Financial Corp lifted its position in shares of SiteOne Landscape Supply by 155.6% during the 3rd quarter. Synovus Financial Corp now owns 1,687 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 1,027 shares during the period. Trexquant Investment LP bought a new stake in shares of SiteOne Landscape Supply during the 3rd quarter valued at $257,000. GSA Capital Partners LLP bought a new stake in shares of SiteOne Landscape Supply during the 3rd quarter valued at $295,000. Public Employees Retirement Association of Colorado bought a new stake in shares of SiteOne Landscape Supply during the 3rd quarter valued at $302,000. Finally, SG Americas Securities LLC lifted its position in shares of SiteOne Landscape Supply by 87.6% during the 2nd quarter. SG Americas Securities LLC now owns 4,104 shares of the industrial products company’s stock valued at $345,000 after acquiring an additional 1,916 shares during the period.

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SiteOne Landscape Supply Company Profile (NYSE:SITE)

SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.

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