SiteOne Landscape Supply (NYSE:SITE) Hits New 12-Month Low – Time to Sell?

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. KeyCorp dropped their price target on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. UBS Group cut their target price on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $100.00 target price (down from $153.00) on shares of SiteOne Landscape Supply in a research note on Thursday, July 30th. Truist Financial reduced their price target on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Zacks Research upgraded SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Monday. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus target price of $132.80.

SiteOne Landscape Supply Stock Performance

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

SiteOne Landscape Supply (NYSE:SITE) last issued 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 analyst estimates 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 previous year, the company earned $2.86 earnings per share. Equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black purchased 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were bought at an average cost of $102.03 per share, with a total value of $816,240.00. Following the completion of the transaction, the chief executive officer directly owned 8,000 shares of the company’s stock, valued at approximately $816,240. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of SiteOne Landscape Supply

Institutional investors have recently modified their holdings of the business. Whittier Trust Co. grew its holdings in SiteOne Landscape Supply by 72.7% during the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $27,000 after buying an additional 88 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of SiteOne Landscape Supply by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company’s stock worth $87,000 after buying an additional 88 shares during the last quarter. Basecamp Wealth Advisors LLC raised its position in 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 purchasing an additional 127 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of SiteOne Landscape Supply by 106.8% during the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after buying an additional 158 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its stake in shares of SiteOne Landscape Supply by 3.0% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 6,091 shares of the industrial products company’s stock worth $811,000 after acquiring an additional 176 shares in the last quarter.

About SiteOne Landscape Supply

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.