SiteOne Landscape Supply (NYSE:SITE) CEO Doug Black Purchases 5,000 Shares

SiteOne Landscape Supply, Inc. (NYSE:SITE) CEO Doug Black acquired 5,000 shares of the firm’s 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 completion of the transaction, the chief executive officer owned 13,000 shares in the company, valued at approximately $1,249,690. The trade was a 62.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Doug Black also recently made the following trade(s):

• On Tuesday, August 4th, Doug Black bought 8,000 shares of SiteOne Landscape Supply stock. The stock was acquired at an average cost of $102.03 per share, for a total transaction of $816,240.00.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $96.56 on Friday. SiteOne Landscape Supply, Inc. has a 12 month low of $90.07 and a 12 month high of $168.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. The firm has a market capitalization of $4.21 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 1.38 and a beta of 1.35. The business’s fifty day moving average price is $102.73 and its 200 day moving average price is $119.87.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). The business had revenue of $1.53 billion for 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%.The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $2.86 earnings per share. On average, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SITE. Millennium Management LLC boosted its holdings in shares of SiteOne Landscape Supply by 45.9% in the first quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock valued at $9,126,000 after acquiring an additional 23,657 shares during the period. NewEdge Advisors LLC raised its position in SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 107 shares during the last quarter. Goldman Sachs Group Inc. raised its position in SiteOne Landscape Supply by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock valued at $25,907,000 after purchasing an additional 11,574 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in SiteOne Landscape Supply by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock worth $20,679,000 after purchasing an additional 16,378 shares during the period. Finally, Jane Street Group LLC acquired a new stake in SiteOne Landscape Supply during the 1st quarter worth $6,797,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SITE. Robert W. Baird lowered their price target on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Stifel Nicolaus reissued a “hold” rating and set a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a report on Thursday, July 30th. UBS Group reduced their price objective on shares of 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. Truist Financial lowered their target price on shares of SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.27.

SiteOne Landscape Supply Company Profile

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.