SiteOne Landscape Supply (NYSE:SITE) Shares Gap Down to $156.89

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s share price gapped down before the market opened on Wednesday . 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.

Wall Street Analyst Weigh In

SITE has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an “underweight” rating in a research note on Thursday, February 15th. Loop Capital lowered shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Truist Financial lifted their target price on SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Royal Bank of Canada raised their price target on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Finally, Robert W. Baird lifted their price objective on SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $172.88.

SiteOne Landscape Supply Stock Down 9.4 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.43 and a quick ratio of 1.10. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 37.73 and a beta of 1.54. The firm has a 50 day simple moving average of $170.37 and a two-hundred day simple moving average of $156.86.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. The business had revenue of $965.00 million for the quarter, compared to the consensus estimate of $942.21 million. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. SiteOne Landscape Supply’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS. As a group, sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 4.04 EPS for the current year.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at $93,151,899.70. 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 that occurred on Friday, March 8th. The shares were 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 in the company, valued at $2,784,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Doug Black sold 10,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the sale, 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. Over the last three months, insiders have sold 23,000 shares of company stock worth $3,924,500. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITE. Northern Trust Corp lifted its holdings in shares of SiteOne Landscape Supply by 1.5% in the third quarter. Northern Trust Corp now owns 221,336 shares of the industrial products company’s stock valued at $36,177,000 after purchasing an additional 3,301 shares in the last quarter. WCM Investment Management LLC grew its stake in shares of SiteOne Landscape Supply by 33.4% during the 4th quarter. WCM Investment Management LLC now owns 33,429 shares of the industrial products company’s stock worth $5,483,000 after acquiring an additional 8,379 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of SiteOne Landscape Supply by 10.8% in the fourth quarter. Handelsbanken Fonder AB now owns 229,237 shares of the industrial products company’s stock valued at $37,251,000 after purchasing an additional 22,400 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of SiteOne Landscape Supply in the third quarter worth $1,826,000. Finally, Trexquant Investment LP acquired a new position in SiteOne Landscape Supply during the third quarter worth $4,060,000.

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.