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

StockNews.com lowered shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a sell rating in a report published on Thursday morning.

A number of other research firms have also recently issued reports on SITE. Robert W. Baird decreased their price target on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank of Canada increased their price target on SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a “sector perform” rating in a research report on Thursday. UBS Group decreased their target price on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating for the company in a research note on Thursday. Barclays lifted their price objective 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. Finally, Jefferies Financial Group raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their target price for the stock from $145.00 to $175.00 in a research note on Friday, December 6th. Two investment 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $154.56.

SiteOne Landscape Supply Price Performance

SITE opened at $141.19 on Thursday. The firm has a market capitalization of $6.37 billion, a PE ratio of 45.69 and a beta of 1.57. 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 business’s 50-day moving average is $138.24 and its two-hundred day moving average is $141.45. SiteOne Landscape Supply has a 1 year low of $114.60 and a 1 year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. Research 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 firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $142.20, for a total value of $924,300.00. Following the transaction, the executive vice president now owns 12,942 shares in the company, valued at approximately $1,840,352.40. This trade represents a 33.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. grew its stake in SiteOne Landscape Supply by 90.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. grew its position in shares of SiteOne Landscape Supply by 287.7% in the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 187 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of SiteOne Landscape Supply by 657.9% in the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 250 shares during the last quarter. Tortoise Investment Management LLC lifted its position in SiteOne Landscape Supply by 78.9% during the fourth quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company’s stock worth $39,000 after buying an additional 131 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in SiteOne Landscape Supply during the fourth quarter worth $40,000.

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.