SiteOne Landscape Supply (NYSE:SITE) Sets New 12-Month Low – Here’s Why

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) hit a new 52-week low on Thursday. The stock traded as low as $86.07 and last traded at $86.15, with a volume of 181082 shares trading hands. The stock had previously closed at $90.31.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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 research report on Thursday, July 30th. Zacks Research raised shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research note on Monday. KeyCorp dropped their target price on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Stifel Nicolaus reiterated a “hold” rating and set a $100.00 price target (down from $153.00) on shares of SiteOne Landscape Supply in a report on Thursday, July 30th. Finally, Truist Financial reduced their price objective on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $132.80.

SiteOne Landscape Supply Price Performance

The firm has a 50 day moving average price of $96.00 and a 200 day moving average price of $111.35. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $3.86 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.30 and a beta of 1.34.

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

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average cost of $96.13 per share, with a total value of $480,650.00. Following the acquisition, the chief executive officer owned 13,000 shares in the company, valued at approximately $1,249,690. This trade represents a 62.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

Hedge funds have recently bought and sold shares of the stock. SkyView Investment Advisors LLC bought a new position in shares of SiteOne Landscape Supply during the 2nd quarter valued at approximately $114,000. WINTON GROUP Ltd bought a new stake in shares of SiteOne Landscape Supply during the 2nd quarter worth approximately $675,000. Engineers Gate Manager LP boosted its stake in shares of SiteOne Landscape Supply by 268.3% during the second quarter. Engineers Gate Manager LP now owns 10,630 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 7,744 shares during the period. Squarepoint Ops LLC bought a new position in SiteOne Landscape Supply in the 2nd quarter worth about $6,977,000. Finally, Nykredit A S purchased a new stake in shares of SiteOne Landscape Supply in the 2nd quarter worth $272,000.

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.