SiteOne Landscape Supply (NYSE:SITE) Shares Down 5.2%

SiteOne Landscape Supply, Inc. (NYSE:SITE) was down 5.2% during trading on Tuesday . The stock traded as low as $124.22 and last traded at $124.49. Approximately 165,986 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 332,231 shares. The stock had previously closed at $131.31.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. Robert W. Baird reduced their target price on SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Stifel Nicolaus dropped their price target on SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Loop Capital cut their price target on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a report on Thursday, June 13th. Finally, Barclays decreased their price objective on shares of SiteOne Landscape Supply from $133.00 to $129.00 and set an “underweight” rating on the stock in a report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $153.63.

SiteOne Landscape Supply Stock Down 1.2 %

The stock has a fifty day moving average price of $147.28 and a two-hundred day moving average price of $158.82. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 35.93 and a beta of 1.54. The company has a quick ratio of 0.96, a current ratio of 2.36 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). The business had revenue of $904.80 million for the quarter, compared to the consensus estimate of $864.01 million. SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. SiteOne Landscape Supply’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) earnings per share. As a group, sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 3.81 EPS for the current year.

Insider Activity

In related news, CEO Doug Black sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at $93,151,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SITE. Vanguard Group Inc. increased its holdings in SiteOne Landscape Supply by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 4,158,085 shares of the industrial products company’s stock valued at $725,794,000 after buying an additional 23,362 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of SiteOne Landscape Supply by 0.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,113,359 shares of the industrial products company’s stock worth $194,337,000 after acquiring an additional 8,865 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of SiteOne Landscape Supply by 47.8% during the 1st quarter. Wasatch Advisors LP now owns 986,602 shares of the industrial products company’s stock worth $172,211,000 after acquiring an additional 319,071 shares in the last quarter. Jackson Square Partners LLC increased its stake in SiteOne Landscape Supply by 25.6% in the fourth quarter. Jackson Square Partners LLC now owns 809,775 shares of the industrial products company’s stock valued at $131,588,000 after acquiring an additional 165,067 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in SiteOne Landscape Supply by 14.7% during the fourth quarter. Allianz Asset Management GmbH now owns 798,300 shares of the industrial products company’s stock valued at $129,724,000 after purchasing an additional 102,207 shares in the last quarter.

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.