SiteOne Landscape Supply (NYSE:SITE) Rating Lowered to Strong Sell at Zacks Research

SiteOne Landscape Supply (NYSE:SITE) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on SITE. Weiss Ratings downgraded shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Barclays decreased their price target on shares of SiteOne Landscape Supply from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. 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 research report on Thursday, April 30th. Stifel Nicolaus dropped their target price on SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating on the stock in a report on Monday. Finally, Bank of America decreased their price target on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating for the company in a report on Monday, April 20th. 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. Based on data from MarketBeat.com, SiteOne Landscape Supply has an average rating of “Hold” and a consensus target price of $159.70.

SiteOne Landscape Supply Trading Down 1.0%

Shares of SITE opened at $105.56 on Monday. SiteOne Landscape Supply has a 1-year low of $100.52 and a 1-year high of $168.56. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $119.36 and a 200-day simple moving average of $131.14. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 1.43 and a beta of 1.35.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $940.10 million for the quarter, compared to analysts’ expectations of $982.27 million. During the same period in the previous year, the business posted ($0.61) EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts forecast that SiteOne Landscape Supply will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 562 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total value of $63,236.24. Following the transaction, the director owned 11,267 shares of the company’s stock, valued at approximately $1,267,762.84. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank grew its stake in SiteOne Landscape Supply by 24.4% in the fourth quarter. Comerica Bank now owns 134,716 shares of the industrial products company’s stock valued at $16,780,000 after purchasing an additional 26,436 shares in the last quarter. Bamco Inc. NY grew its stake in shares of SiteOne Landscape Supply by 3.1% in the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock valued at $252,653,000 after buying an additional 61,490 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in SiteOne Landscape Supply during the third quarter worth $1,932,000. Magnetar Financial LLC grew its position in shares of SiteOne Landscape Supply by 41.0% in the 3rd quarter. Magnetar Financial LLC now owns 46,669 shares of the industrial products company’s stock valued at $6,011,000 after acquiring an additional 13,572 shares during the period. Finally, Interval Partners LP bought a new stake in shares of SiteOne Landscape Supply in the 3rd quarter valued at about $12,720,000.

About SiteOne Landscape Supply

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.