SiteOne Landscape Supply (NYSE:SITE) Rating Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a sell rating in a report published on Thursday morning.

SITE has been the subject of a number of other research reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $140.00 price objective (down previously from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday. Royal Bank of Canada raised their price target on SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a “sector perform” rating in a research report on Thursday. UBS Group cut their price objective on SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a report on Thursday. Robert W. Baird lowered their target price on SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Barclays lifted their target price on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, SiteOne Landscape Supply currently has a consensus rating of “Hold” and a consensus target price of $154.56.

SiteOne Landscape Supply Trading Up 3.1 %

SITE opened at $141.19 on Thursday. The business’s 50 day moving average price is $138.24 and its 200 day moving average price is $141.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The stock has a market capitalization of $6.37 billion, a PE ratio of 45.69 and a beta of 1.57. SiteOne Landscape Supply has a one year low of $114.60 and a one year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.22). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. As a group, equities research analysts expect that SiteOne Landscape Supply will post 2.94 EPS for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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 trade represents a 33.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in SiteOne Landscape Supply during the fourth quarter worth approximately $40,676,000. Artisan Partners Limited Partnership raised its holdings in SiteOne Landscape Supply by 137.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 368,142 shares of the industrial products company’s stock worth $48,510,000 after purchasing an additional 212,907 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of SiteOne Landscape Supply by 320.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 226,300 shares of the industrial products company’s stock worth $29,713,000 after buying an additional 172,500 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of SiteOne Landscape Supply by 11.4% in the 3rd quarter. Wasatch Advisors LP now owns 1,577,651 shares of the industrial products company’s stock valued at $238,083,000 after buying an additional 161,846 shares in the last quarter. Finally, Bamco Inc. NY grew its position in shares of SiteOne Landscape Supply by 8.9% in the 3rd quarter. Bamco Inc. NY now owns 1,580,342 shares of the industrial products company’s stock valued at $238,489,000 after buying an additional 129,252 shares during the last quarter.

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.