SiteOne Landscape Supply (NYSE:SITE) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

SITE has been the subject of a number of other reports. Weiss Ratings cut SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Bank of America cut their price target on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Stifel Nicolaus lowered their price objective on shares of SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Thursday, April 30th. Finally, UBS Group initiated coverage on shares of SiteOne Landscape Supply in a research note on Friday, April 10th. They set a “neutral” rating and a $140.00 target price on the stock. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $159.70.

SiteOne Landscape Supply Stock Down 1.0%

NYSE:SITE opened at $105.56 on Monday. SiteOne Landscape Supply has a 52 week low of $100.52 and a 52 week high of $168.56. The stock’s fifty day moving average is $119.36 and its two-hundred day moving average is $131.14. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 1.43 and a beta of 1.35. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). The firm had revenue of $940.10 million during the quarter, compared to analyst estimates of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.61) earnings per share. Research analysts anticipate that SiteOne Landscape Supply will post 4.06 EPS for the current year.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 562 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $112.52, for a total value of $63,236.24. Following the sale, the director owned 11,267 shares of the company’s stock, valued at $1,267,762.84. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP increased its stake in shares of SiteOne Landscape Supply by 11.4% during the third quarter. Wasatch Advisors LP now owns 2,177,446 shares of the industrial products company’s stock worth $280,455,000 after buying an additional 222,959 shares during the period. Bamco Inc. NY raised its holdings in SiteOne Landscape Supply by 3.1% in the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock valued at $252,653,000 after acquiring an additional 61,490 shares in the last quarter. 59 North Capital Management LP purchased a new position in SiteOne Landscape Supply in the third quarter worth approximately $214,417,000. Capital World Investors lifted its stake in SiteOne Landscape Supply by 37.9% in the fourth quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock worth $174,675,000 after acquiring an additional 385,666 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its holdings in SiteOne Landscape Supply by 2.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company’s stock worth $147,313,000 after acquiring an additional 31,684 shares in the last quarter.

About SiteOne Landscape Supply

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.