SiteOne Landscape Supply (SITE) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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SiteOne Landscape Supply (NYSE:SITE) posted its quarterly earnings data on Tuesday. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02, Briefing.com reports. The business had revenue of $474.60 million during the quarter, compared to analysts’ expectations of $473.18 million. SiteOne Landscape Supply had a net margin of 3.90% and a return on equity of 31.11%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $0.09 earnings per share.

SITE stock opened at $55.06 on Wednesday. SiteOne Landscape Supply has a 12 month low of $45.32 and a 12 month high of $95.49. The company has a market cap of $2.25 billion, a P/E ratio of 45.50 and a beta of 1.06. The company has a quick ratio of 1.29, a current ratio of 2.72 and a debt-to-equity ratio of 1.90.

In related news, EVP Pascal Convers sold 9,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $54.70, for a total value of $533,325.00. Following the completion of the sale, the executive vice president now owns 9,750 shares in the company, valued at approximately $533,325. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP L Briley Brisendine, Jr. sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $55.62, for a total transaction of $150,174.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,850 shares of company stock valued at $3,033,075. Company insiders own 4.40% of the company’s stock.

Several large investors have recently modified their holdings of SITE. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of SiteOne Landscape Supply by 67.9% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,431,340 shares of the industrial products company’s stock valued at $134,380,000 after acquiring an additional 983,117 shares in the last quarter. Capital World Investors purchased a new stake in shares of SiteOne Landscape Supply in the 3rd quarter valued at approximately $53,228,000. Brown Advisory Inc. lifted its position in shares of SiteOne Landscape Supply by 92.7% in the 4th quarter. Brown Advisory Inc. now owns 793,021 shares of the industrial products company’s stock valued at $43,829,000 after acquiring an additional 381,468 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of SiteOne Landscape Supply by 16.9% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 1,950,000 shares of the industrial products company’s stock valued at $146,913,000 after acquiring an additional 281,521 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of SiteOne Landscape Supply by 619.6% in the 4th quarter. Millennium Management LLC now owns 276,709 shares of the industrial products company’s stock valued at $15,294,000 after acquiring an additional 238,257 shares in the last quarter.

SITE has been the subject of several recent analyst reports. Royal Bank of Canada set a $88.00 price objective on shares of SiteOne Landscape Supply and gave the company a “buy” rating in a report on Thursday, November 1st. They noted that the move was a valuation call. Deutsche Bank cut their target price on shares of SiteOne Landscape Supply from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. SunTrust Banks cut their target price on shares of SiteOne Landscape Supply to $79.00 and set a “buy” rating for the company in a research note on Monday, November 5th. TheStreet lowered shares of SiteOne Landscape Supply from a “b-” rating to a “c” rating in a research note on Monday, November 12th. Finally, Barclays set a $61.00 target price on shares of SiteOne Landscape Supply and gave the company a “hold” rating in a research note on Wednesday, December 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. SiteOne Landscape Supply presently has an average rating of “Hold” and an average target price of $75.56.

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About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.

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Earnings History for SiteOne Landscape Supply (NYSE:SITE)

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