SiteOne Landscape Supply (NYSE:SITE) Downgraded to Sell Rating by StockNews.com

SiteOne Landscape Supply (NYSE:SITE) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

SITE has been the subject of a number of other reports. The Goldman Sachs Group started coverage on SiteOne Landscape Supply in a research report on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price objective for the company. Barclays upped their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and lifted their target price for the company from $145.00 to $175.00 in a research report on Friday, December 6th. Finally, Robert W. Baird upped their price target on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $156.44.

SiteOne Landscape Supply Stock Performance

NYSE:SITE traded up $4.14 during midday trading on Monday, hitting $143.00. The company’s stock had a trading volume of 381,947 shares, compared to its average volume of 259,440. SiteOne Landscape Supply has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The firm has a market cap of $6.45 billion, a P/E ratio of 46.28 and a beta of 1.56. The firm’s 50 day moving average is $140.46 and its 200-day moving average is $140.52.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company posted $1.25 earnings per share. SiteOne Landscape Supply’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts anticipate that SiteOne Landscape Supply will post 2.94 earnings per share for the current fiscal year.

Insider Activity at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the 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 sale, the executive vice president now owns 12,942 shares of the company’s stock, valued at $1,840,352.40. This trade represents a 33.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several institutional investors have recently modified their holdings of SITE. Nomura Asset Management Co. Ltd. lifted its stake in SiteOne Landscape Supply by 90.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. raised its holdings in SiteOne Landscape Supply by 287.7% during the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 187 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after buying an additional 250 shares during the last quarter. American National Bank & Trust acquired a new position in shares of SiteOne Landscape Supply in the 3rd quarter valued at $49,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of SiteOne Landscape Supply in the 3rd quarter valued at $71,000.

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.