SiteOne Landscape Supply (NYSE:SITE) Shares Gap Up – Should You Buy?

SiteOne Landscape Supply, Inc. (NYSE:SITE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $105.40, but opened at $114.06. SiteOne Landscape Supply shares last traded at $110.48, with a volume of 82,924 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SITE. Stifel Nicolaus decreased their price objective on shares of SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating on the stock in a report on Monday. Weiss Ratings downgraded shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Barclays reduced their price target on shares of SiteOne Landscape Supply from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. UBS Group restated a “neutral” rating on shares of SiteOne Landscape Supply in a report on Thursday. Finally, Zacks Research downgraded SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research note on Monday. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $159.70.

SiteOne Landscape Supply Stock Performance

The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 1.49 and a beta of 1.35. The stock has a fifty day moving average price of $118.38 and a two-hundred day moving average price of $130.89. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). The company had revenue of $940.10 million for the quarter, compared to analyst estimates of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.61) EPS. As a group, analysts forecast that SiteOne Landscape Supply, Inc. will post 4.06 EPS for the current fiscal year.

Insider Activity

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 562 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $112.52, for a total transaction of $63,236.24. Following the sale, the director directly owned 11,267 shares of the company’s stock, valued at $1,267,762.84. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several institutional investors and hedge funds have recently modified their holdings of the company. Man Group plc grew its stake in SiteOne Landscape Supply by 0.4% in the 2nd quarter. Man Group plc now owns 22,338 shares of the industrial products company’s stock worth $2,702,000 after acquiring an additional 86 shares during the period. Whittier Trust Co. boosted its holdings in shares of SiteOne Landscape Supply by 72.7% during the first quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 88 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of SiteOne Landscape Supply by 15.6% during the first quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 88 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of SiteOne Landscape Supply by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company’s stock valued at $2,109,000 after purchasing an additional 89 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of SiteOne Landscape Supply by 36.6% in the first 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 period.

About SiteOne Landscape Supply

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.