Zacks Research Downgrades SiteOne Landscape Supply (NYSE:SITE) to Strong Sell

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.

SITE has been the subject of several other research reports. 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 reduced their target price on SiteOne Landscape Supply from $150.00 to $148.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Thursday, April 30th. Bank of America dropped their price target on SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, UBS Group initiated coverage on SiteOne Landscape Supply in a research note on Friday, April 10th. They issued a “neutral” rating and a $140.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $159.70.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock opened at $105.56 on Monday. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $4.68 billion, a P/E ratio of 31.32, a P/E/G ratio of 1.43 and a beta of 1.35. The business’s 50 day moving average is $119.36 and its two-hundred day moving average is $131.14. SiteOne Landscape Supply has a 12-month low of $100.52 and a 12-month high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The business had revenue of $940.10 million for the quarter, compared to analysts’ expectations of $982.27 million. During the same quarter last year, the business earned ($0.61) EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Analysts expect 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 stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $112.52, for a total value of $63,236.24. Following the completion of the sale, the director owned 11,267 shares in the company, valued at approximately $1,267,762.84. This represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP grew its stake in shares of SiteOne Landscape Supply by 11.4% in the 3rd quarter. Wasatch Advisors LP now owns 2,177,446 shares of the industrial products company’s stock valued at $280,455,000 after buying an additional 222,959 shares during the period. Bamco Inc. NY increased its position in shares of SiteOne Landscape Supply by 3.1% during 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 acquiring an additional 61,490 shares during the last quarter. 59 North Capital Management LP acquired a new stake in SiteOne Landscape Supply in the 3rd quarter valued at approximately $214,417,000. Capital World Investors raised its position in SiteOne Landscape Supply by 37.9% in the fourth quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock valued at $174,675,000 after purchasing an additional 385,666 shares during the period. Finally, Conestoga Capital Advisors LLC raised its position in SiteOne Landscape Supply by 2.9% in the first quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company’s stock valued at $147,313,000 after purchasing an additional 31,684 shares during the period.

SiteOne Landscape Supply Company Profile

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.