SiteOne Landscape Supply (NYSE:SITE) Shares Gap Down After Earnings Miss

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s stock price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $156.89, but opened at $143.85. SiteOne Landscape Supply shares last traded at $138.80, with a volume of 112,886 shares traded.

The industrial products company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.22). SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The firm had revenue of $904.80 million during the quarter, compared to the consensus estimate of $864.01 million. During the same period in the previous year, the firm earned ($0.10) EPS. The business’s revenue was up 8.1% on a year-over-year basis.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of SiteOne Landscape Supply from $204.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday. Robert W. Baird boosted their price objective on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Stifel Nicolaus raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and decreased their target price for the stock from $167.00 to $165.00 in a report on Thursday. Loop Capital lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Barclays cut their price target on SiteOne Landscape Supply from $145.00 to $133.00 and set an “underweight” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $167.50.

Insider Transactions at SiteOne Landscape Supply

In other news, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the transaction, the chief financial officer now owns 15,467 shares of the company’s stock, valued at $2,784,060. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the transaction, the chief financial officer now owns 15,467 shares of the company’s stock, valued at $2,784,060. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Doug Black sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the completion of the transaction, the chief executive officer now directly owns 574,657 shares of the company’s stock, valued at approximately $93,151,899.70. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock valued at $3,924,500 over the last 90 days. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in SiteOne Landscape Supply in the third quarter worth approximately $26,000. Operose Advisors LLC bought a new position in SiteOne Landscape Supply in the third quarter worth approximately $28,000. Principal Securities Inc. bought a new position in SiteOne Landscape Supply in the fourth quarter worth approximately $31,000. GAMMA Investing LLC bought a new position in SiteOne Landscape Supply in the fourth quarter worth approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in SiteOne Landscape Supply by 588.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 247 shares in the last quarter.

SiteOne Landscape Supply Stock Performance

The company has a quick ratio of 1.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.29. The company has a market cap of $6.79 billion, a P/E ratio of 43.58 and a beta of 1.53. The firm has a 50 day moving average of $169.68 and a 200-day moving average of $156.72.

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.