SiteOne Landscape Supply (NYSE:SITE) Sets New 1-Year Low – Time to Sell?

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) hit a new 52-week low on Tuesday . The company traded as low as $99.99 and last traded at $100.8340, with a volume of 21825 shares trading hands. The stock had previously closed at $102.78.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SITE. Bank of America dropped their price target on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Robert W. Baird set a $160.00 price objective on SiteOne Landscape Supply in a research report on Thursday, April 30th. Weiss Ratings cut SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Thursday, April 30th. Finally, Stifel Nicolaus reduced their price target on shares of SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $156.64.

SiteOne Landscape Supply Stock Down 1.6%

The business’s 50 day simple moving average is $109.69 and its 200-day simple moving average is $128.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 2.33. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 1.40 and a beta of 1.34.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $940.10 million during the quarter, compared to analyst estimates of $982.27 million. During the same period last year, the company posted ($0.61) earnings per share. The company’s revenue was up .1% compared to the same quarter last year. Sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 4.02 earnings per share for the current year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 563 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $115.13, for a total value of $64,818.19. Following the transaction, the director owned 11,829 shares in the company, valued at $1,361,872.77. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several institutional investors have recently made changes to their positions in the company. Amundi bought a new stake in SiteOne Landscape Supply in the third quarter worth approximately $59,763,000. AQR Capital Management LLC raised its holdings in shares of SiteOne Landscape Supply by 171.0% during the 4th quarter. AQR Capital Management LLC now owns 691,558 shares of the industrial products company’s stock valued at $86,140,000 after purchasing an additional 436,376 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in shares of SiteOne Landscape Supply in the 4th quarter valued at $49,824,000. Capital World Investors lifted its stake in shares of SiteOne Landscape Supply by 37.9% in the 4th quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock valued at $174,675,000 after purchasing an additional 385,666 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of SiteOne Landscape Supply by 621.3% in the 4th quarter. Millennium Management LLC now owns 389,981 shares of the industrial products company’s stock valued at $48,576,000 after purchasing an additional 335,916 shares during the last quarter.

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.