SiteOne Landscape Supply (NYSE:SITE) Issues Quarterly Earnings Results

SiteOne Landscape Supply (NYSE:SITE) issued its earnings results on Wednesday. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22), Briefing.com reports. SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The company had revenue of $904.80 million during the quarter, compared to analyst estimates of $864.01 million. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year.

SiteOne Landscape Supply Trading Up 1.4 %

SITE stock opened at $152.42 on Friday. SiteOne Landscape Supply has a 1-year low of $116.81 and a 1-year high of $188.01. The company has a current ratio of 2.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $169.37 and its 200-day moving average is $156.71. The firm has a market cap of $6.89 billion, a P/E ratio of 44.18 and a beta of 1.53.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at approximately $93,151,899.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Doug Black sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the sale, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at $93,151,899.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John T. Guthrie sold 3,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the transaction, the chief financial officer now owns 15,467 shares in the company, valued at $2,784,060. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,000 shares of company stock valued at $3,924,500. 2.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SITE shares. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $145.00 to $133.00 and set an “underweight” rating on the stock in a research report on Thursday. Truist Financial cut their price objective on shares of SiteOne Landscape Supply from $204.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and reduced their price target for the stock from $167.00 to $165.00 in a research report on Thursday. Royal Bank of Canada boosted their price objective on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. Finally, Robert W. Baird increased their target price on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $167.50.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.