SiteOne Landscape Supply (NYSE:SITE) Hits New 12-Month Low After Analyst Downgrade

SiteOne Landscape Supply, Inc. (NYSE:SITE) hit a new 52-week low during mid-day trading on Wednesday after Royal Bank Of Canada lowered their price target on the stock from $135.00 to $124.00. Royal Bank Of Canada currently has an outperform rating on the stock. SiteOne Landscape Supply traded as low as $85.81 and last traded at $84.45, with a volume of 43076 shares changing hands. The stock had previously closed at $90.47.

Other research analysts also recently issued research reports about the stock. Zacks Research raised shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. UBS Group lowered their price target on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $100.00 target price (down from $153.00) on shares of SiteOne Landscape Supply in a research note on Thursday, July 30th. Truist Financial lowered their price objective on shares of SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Barclays cut their target price on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $131.70.

Insider Activity

In other SiteOne Landscape Supply news, CEO Doug Black bought 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the transaction, the chief executive officer directly owned 8,000 shares of the company’s stock, valued at approximately $816,240. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of SiteOne Landscape Supply

Hedge funds have recently modified their holdings of the stock. Basecamp Wealth Advisors LLC raised its position in SiteOne Landscape Supply by 219.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 127 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of SiteOne Landscape Supply by 72.7% in the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 88 shares during the period. Bessemer Group Inc. boosted its holdings in SiteOne Landscape Supply by 182.6% during the first quarter. Bessemer Group Inc. now owns 373 shares of the industrial products company’s stock worth $50,000 after buying an additional 241 shares in the last quarter. Versant Capital Management Inc grew its position in SiteOne Landscape Supply by 114.3% during the third quarter. Versant Capital Management Inc now owns 420 shares of the industrial products company’s stock valued at $38,000 after buying an additional 224 shares during the period. Finally, State of Wyoming increased its holdings in SiteOne Landscape Supply by 77.9% in the first quarter. State of Wyoming now owns 619 shares of the industrial products company’s stock valued at $82,000 after buying an additional 271 shares in the last quarter.

SiteOne Landscape Supply Stock Performance

The firm has a market capitalization of $3.60 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 1.27 and a beta of 1.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. The firm’s 50 day moving average price is $95.08 and its 200-day moving average price is $110.20.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.22). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.86 earnings per share. On average, research analysts expect that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current year.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, landscape designers, irrigation professionals, golf course managers, government agencies and other green-industry businesses through a network of distribution centers and branches.

Its product portfolio includes irrigation and outdoor lighting equipment, nursery products, turf and landscape maintenance supplies, fertilizers and other agronomic products, hardscape materials, outdoor living products, and golf course maintenance supplies.