SiteOne Landscape Supply (NYSE:SITE) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a sell rating in a research report report published on Monday.

A number of other analysts have also issued reports on the stock. Barclays boosted their target price on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group started coverage on shares of SiteOne Landscape Supply in a report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price target for the company. Robert W. Baird raised their target price on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their target price for the company from $145.00 to $175.00 in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, SiteOne Landscape Supply presently has an average rating of “Hold” and an average target price of $156.44.

SiteOne Landscape Supply Trading Up 3.0 %

NYSE:SITE opened at $143.00 on Monday. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $140.46 and a 200 day moving average of $140.52. The firm has a market capitalization of $6.45 billion, a P/E ratio of 46.28 and a beta of 1.56. SiteOne Landscape Supply has a 52 week low of $114.60 and a 52 week high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts predict that SiteOne Landscape Supply will post 2.94 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Joseph Ketter sold 6,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the sale, the executive vice president now owns 12,942 shares in the company, valued at approximately $1,840,352.40. This represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several hedge funds have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its position in SiteOne Landscape Supply by 90.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. boosted its position in shares of SiteOne Landscape Supply by 287.7% during the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 187 shares during the last quarter. Trust Co. of Vermont raised its position in shares of SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock valued at $38,000 after buying an additional 250 shares in the last quarter. American National Bank & Trust purchased a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at about $49,000. Finally, Quarry LP bought a new position in shares of SiteOne Landscape Supply during the 2nd quarter valued at $61,000.

About SiteOne Landscape Supply

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.