Insider Buying: SiteOne Landscape Supply (NYSE:SITE) CEO Buys 8,000 Shares of Stock

SiteOne Landscape Supply, Inc. (NYSE:SITE) CEO Doug Black purchased 8,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were purchased at an average price of $102.03 per share, with a total value of $816,240.00. Following the acquisition, the chief executive officer owned 8,000 shares in the company, valued at approximately $816,240. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SiteOne Landscape Supply Trading Down 3.6%

Shares of NYSE:SITE traded down $3.63 during trading on Thursday, reaching $98.34. The stock had a trading volume of 660,414 shares, compared to its average volume of 792,370. SiteOne Landscape Supply, Inc. has a 52 week low of $90.07 and a 52 week high of $168.56. 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 fifty day moving average is $105.83 and its 200 day moving average is $125.58. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 26.94, a P/E/G ratio of 1.47 and a beta of 1.35.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results 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). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.SiteOne Landscape Supply’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.86 EPS. As a group, equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on SITE. Truist Financial decreased their target price on 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. Robert W. Baird reduced their price objective on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. Barclays dropped their target price on shares of 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. Zacks Research cut shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Finally, Bank of America dropped their price objective on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $135.27.

Institutional Trading of SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently bought and sold shares of SITE. Basecamp Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 127 shares during the last quarter. Whittier Trust Co. lifted its position in 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 acquiring an additional 88 shares in the last quarter. Rothschild Investment LLC boosted its stake in SiteOne Landscape Supply by 1,521.4% during the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 213 shares during the last quarter. IFP Advisors Inc increased its holdings in SiteOne Landscape Supply by 106.8% during the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 158 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of SiteOne Landscape Supply in the fourth quarter valued at approximately $42,000.

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.