SiteOne Landscape Supply (NYSE:SITE) Shares Gap Down – What’s Next?

SiteOne Landscape Supply, Inc. (NYSE:SITE) shares gapped down before the market opened on Thursday . The stock had previously closed at $98.10, but opened at $94.21. SiteOne Landscape Supply shares last traded at $95.22, with a volume of 22,890 shares trading hands.

Wall Street Analyst Weigh In

SITE has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $100.00 target price (down from $153.00) on shares of SiteOne Landscape Supply in a research note on Thursday, July 30th. Truist Financial cut their target price on shares of SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Thursday, April 30th. Finally, Zacks Research downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $135.27.

SiteOne Landscape Supply Price Performance

The company has a quick ratio of 1.01, a current ratio of 2.30 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $4.18 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.38 and a beta of 1.35. The firm’s 50 day simple moving average is $104.39 and its 200 day simple moving average is $122.21.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business posted $2.86 earnings per share. SiteOne Landscape Supply’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current fiscal year.

Insider Activity

In other news, Director Fred M. Diaz sold 563 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total transaction of $64,818.19. Following the transaction, the director directly owned 11,829 shares in the company, valued at approximately $1,361,872.77. This trade represents a 4.54% decrease in their ownership of the stock. 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. Also, CEO Doug Black purchased 8,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was bought at an average price of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the acquisition, the chief executive officer directly owned 8,000 shares in the company, valued at approximately $816,240. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of SiteOne Landscape Supply

Large investors have recently bought and sold shares of the stock. Man Group plc raised its holdings in shares of SiteOne Landscape Supply by 0.4% in the second quarter. Man Group plc now owns 22,338 shares of the industrial products company’s stock worth $2,702,000 after buying an additional 86 shares during the last quarter. Whittier Trust Co. increased its position in shares of SiteOne Landscape Supply by 72.7% in the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 88 shares during the period. Parallel Advisors LLC increased its position in shares of SiteOne Landscape Supply by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 88 shares during the period. State of New Jersey Common Pension Fund D raised its stake in SiteOne Landscape Supply by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company’s stock worth $2,109,000 after acquiring an additional 89 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 107 shares during the last quarter.

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.