SiteOne Landscape Supply (NYSE:SITE) Reaches New 52-Week Low – Here’s What Happened

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $98.00 and last traded at $112.3410, with a volume of 730 shares changing hands. The stock had previously closed at $111.53.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SITE. Bank of America dropped their target price 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. UBS Group reissued a “neutral” rating on shares of SiteOne Landscape Supply in a report on Thursday. Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Thursday, April 30th. Finally, Barclays reduced their price objective on shares of SiteOne Landscape Supply from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $159.70.

SiteOne Landscape Supply Trading Up 1.2%

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 business’s 50 day moving average price is $117.95 and its 200-day moving average price is $130.79. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35.

SiteOne Landscape Supply (NYSE:SITE) last issued its 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 business had revenue of $940.10 million for 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 firm’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts expect that SiteOne Landscape Supply, Inc. will post 4.06 EPS for the current year.

Insider Buying and Selling

In other news, Director Fred M. Diaz sold 562 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $112.52, for a total value of $63,236.24. Following the completion of the sale, the director directly owned 11,267 shares of the company’s stock, valued at $1,267,762.84. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in shares of SiteOne Landscape Supply by 45.9% during the 1st quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock worth $9,126,000 after acquiring an additional 23,657 shares in the last quarter. NewEdge Advisors LLC lifted its holdings 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 purchasing an additional 107 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in SiteOne Landscape Supply by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock worth $25,907,000 after purchasing an additional 11,574 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in SiteOne Landscape Supply by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock worth $20,679,000 after purchasing an additional 16,378 shares during the period. Finally, Jane Street Group LLC acquired a new position in SiteOne Landscape Supply during the first quarter valued at approximately $6,797,000.

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.