SiteOne Landscape Supply (NYSE:SITE) Downgraded by StockNews.com to Sell

SiteOne Landscape Supply (NYSE:SITE) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group started coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price objective on the stock. Barclays boosted their price target on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Robert W. Baird raised their price objective on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $175.00 in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $156.44.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE traded up $4.14 on Monday, reaching $143.00. The company’s stock had a trading volume of 381,947 shares, compared to its average volume of 259,440. SiteOne Landscape Supply has a 52-week low of $114.60 and a 52-week high of $188.01. The stock has a market capitalization of $6.45 billion, a P/E ratio of 46.28 and a beta of 1.56. The stock’s 50-day moving average is $140.46 and its two-hundred day moving average is $140.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that SiteOne Landscape Supply will post 2.94 EPS for the current year.

Insider Transactions at SiteOne Landscape Supply

In other news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the sale, the executive vice president now directly owns 12,942 shares in the company, valued at $1,840,352.40. This represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. increased its position in SiteOne Landscape Supply by 90.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of SiteOne Landscape Supply by 287.7% during the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 187 shares during the last quarter. Trust Co. of Vermont increased its position in SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 250 shares in the last quarter. American National Bank & Trust acquired a new position in SiteOne Landscape Supply in the 3rd quarter valued at about $49,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in SiteOne Landscape Supply in the 3rd quarter valued at about $71,000.

SiteOne Landscape Supply Company Profile

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.