Insider Buying: SiteOne Landscape Supply (NYSE:SITE) CEO Acquires $816,240.00 in Stock

SiteOne Landscape Supply, Inc. (NYSE:SITE) CEO Doug Black purchased 8,000 shares of SiteOne Landscape Supply stock in a transaction that occurred on Tuesday, August 4th. The shares were purchased at an average price of $102.03 per share, for a total transaction of $816,240.00. Following the transaction, the chief executive officer directly owned 8,000 shares in the company, valued at $816,240. This represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

SiteOne Landscape Supply Price Performance

NYSE:SITE traded down $3.63 during mid-day 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 12 month low of $90.07 and a 12 month high of $168.56. The stock has a market capitalization of $4.29 billion, a PE ratio of 26.94, a P/E/G ratio of 1.47 and a beta of 1.35. 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 stock has a 50-day simple moving average of $105.83 and a two-hundred day simple moving average of $125.58.

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

Hedge Funds Weigh In On SiteOne Landscape Supply

Several large investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in 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 purchasing an additional 23,657 shares during the period. NewEdge Advisors LLC grew its position in shares of 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 buying an additional 107 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of SiteOne Landscape Supply by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock valued at $25,907,000 after buying an additional 11,574 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of SiteOne Landscape Supply by 10.6% in the first 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 valued at $20,679,000 after buying an additional 16,378 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of SiteOne Landscape Supply during the first quarter worth about $6,797,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays cut 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 SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research note on Monday, June 22nd. UBS Group cut their price objective on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Bank of America lowered their target price on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, Royal Bank Of Canada dropped their target price 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. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.