SiteOne Landscape Supply (NYSE:SITE) Sets New 52-Week Low – What’s Next?

SiteOne Landscape Supply, Inc. (NYSE:SITE) shares reached a new 52-week low during trading on Monday . The company traded as low as $89.32 and last traded at $89.5930, with a volume of 1362877 shares trading hands. The stock had previously closed at $92.82.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $100.00 price target (down from $153.00) on shares of SiteOne Landscape Supply in a research note on Thursday, July 30th. Royal Bank Of Canada lowered their price objective on SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of SiteOne Landscape Supply from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Barclays reduced 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. Finally, UBS Group decreased their price target on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Seven 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, the company has an average rating of “Hold” and a consensus price target of $135.27.

SiteOne Landscape Supply Price Performance

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 company has a market cap of $3.91 billion, a PE ratio of 24.55, a P/E/G ratio of 1.34 and a beta of 1.34. The firm has a 50 day moving average of $99.96 and a two-hundred day moving average of $115.73.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.22). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.86 EPS. Research analysts predict that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

In other news, CEO Doug Black purchased 5,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average cost of $96.13 per share, with a total value of $480,650.00. Following the acquisition, the chief executive officer directly owned 13,000 shares of the company’s stock, valued at $1,249,690. This represents a 62.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

A number of hedge funds have recently bought and sold shares of SITE. California State Teachers Retirement System lifted its holdings in SiteOne Landscape Supply by 11,170.3% in the second quarter. California State Teachers Retirement System now owns 5,861,568 shares of the industrial products company’s stock valued at $670,622,000 after acquiring an additional 5,809,559 shares during the period. Bamco Inc. NY purchased a new position in SiteOne Landscape Supply in the second quarter worth about $232,115,000. BlackRock Inc. bought a new stake in shares of SiteOne Landscape Supply during the 2nd quarter valued at about $221,355,000. Jupiter Topco LLC purchased a new stake in shares of SiteOne Landscape Supply during the 2nd quarter valued at about $59,521,000. Finally, Bank of America Corp DE purchased a new stake in shares of SiteOne Landscape Supply during the 2nd quarter valued at about $49,027,000.

SiteOne Landscape Supply Company Profile

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

Its product offerings include irrigation and water-management systems, nursery and landscape supplies, seed, fertilizer, turf and ornamental plant protection products, landscape lighting, hardscape materials, outdoor living products, and related maintenance equipment.