SiteOne Landscape Supply (NYSE:SITE) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

SiteOne Landscape Supply (NYSE:SITE) announced its earnings results on Wednesday. The industrial products company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.22), Zacks reports. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%.

SiteOne Landscape Supply Trading Up 2.6 %

Shares of SiteOne Landscape Supply stock traded up $3.44 during trading on Wednesday, reaching $136.60. 289,825 shares of the company were exchanged, compared to its average volume of 331,266. SiteOne Landscape Supply has a twelve month low of $114.60 and a twelve month high of $188.01. The business has a 50-day moving average price of $138.47 and a 200-day moving average price of $141.48. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 44.72 and a beta of 1.57.

Analyst Upgrades and Downgrades

SITE has been the subject of several research reports. 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. Barclays raised their price target on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. 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 report on Monday. Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their price objective for the company from $145.00 to $175.00 in a research report on Friday, December 6th. Finally, StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply currently has a consensus rating of “Hold” and a consensus target price of $155.33.

Insiders Place Their Bets

In other news, EVP Joseph Ketter sold 6,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the sale, the executive vice president now directly owns 12,942 shares of the company’s stock, valued at $1,840,352.40. This represents a 33.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company’s stock.

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.