SiteOne Landscape Supply (NYSE:SITE) Rating Lowered to Strong Sell at Zacks Research

SiteOne Landscape Supply (NYSE:SITE) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Thursday, April 30th. Bank of America dropped their price target on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating for the company in a research note on Monday, April 20th. UBS Group assumed coverage on shares of SiteOne Landscape Supply in a report on Friday, April 10th. They issued a “neutral” rating and a $140.00 target price on the stock. Barclays cut 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 report on Thursday, April 30th. Finally, Robert W. Baird set a $160.00 price objective on shares of SiteOne Landscape Supply in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $159.70.

SiteOne Landscape Supply Price Performance

SiteOne Landscape Supply stock opened at $105.56 on Monday. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.43 and a beta of 1.35. The stock’s 50 day moving average is $119.36 and its 200-day moving average is $131.14. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply has a 12 month low of $100.52 and a 12 month high of $168.56.

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

Insider Activity at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 563 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $115.13, for a total transaction of $64,818.19. Following the sale, the director owned 11,829 shares of the company’s stock, valued at $1,361,872.77. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

A number of hedge funds have recently made changes to their positions in the company. Comerica Bank raised its holdings in SiteOne Landscape Supply by 24.4% in the 4th quarter. Comerica Bank now owns 134,716 shares of the industrial products company’s stock valued at $16,780,000 after buying an additional 26,436 shares during the last quarter. Bamco Inc. NY raised its stake in shares of SiteOne Landscape Supply by 3.1% during the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock valued at $252,653,000 after acquiring an additional 61,490 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of SiteOne Landscape Supply during the third quarter worth $1,932,000. Magnetar Financial LLC increased its holdings in SiteOne Landscape Supply by 41.0% in the third quarter. Magnetar Financial LLC now owns 46,669 shares of the industrial products company’s stock valued at $6,011,000 after purchasing an additional 13,572 shares during the period. Finally, Interval Partners LP bought a new position in SiteOne Landscape Supply during the 3rd quarter worth $12,720,000.

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.