SiteOne Landscape Supply (NYSE:SITE) Reaches New 1-Year Low – Should You Sell?

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) hit a new 52-week low on Thursday . The company traded as low as $98.00 and last traded at $112.3410, with a volume of 730 shares changing hands. The stock had previously closed at $111.53.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SITE. Bank of America dropped their price objective on shares of 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. Weiss Ratings cut SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Thursday, April 30th. Stifel Nicolaus lowered their target price on shares of SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating for the company in a research note on Monday. Finally, Zacks Research downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Monday. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $159.70.

SiteOne Landscape Supply Trading Up 1.4%

The firm has a market capitalization of $5.01 billion, a P/E ratio of 33.55, a PEG ratio of 1.41 and a beta of 1.35. The business’s 50 day moving average is $118.83 and its two-hundred day moving average is $131.01. The company has a quick ratio of 0.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.39.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.27). The firm had revenue of $940.10 million for the quarter, compared to the consensus estimate of $982.27 million. SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.SiteOne Landscape Supply’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.61) EPS. Analysts expect that SiteOne Landscape Supply, Inc. will post 4.06 EPS for the current year.

Insider Activity at SiteOne Landscape Supply

In related news, Director Fred M. Diaz sold 562 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 11,267 shares of the company’s stock, valued at approximately $1,267,762.84. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 Investors Weigh In On SiteOne Landscape Supply

Several hedge funds have recently bought and sold shares of the business. Millennium Management LLC grew its position in SiteOne Landscape Supply by 45.9% during the first quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock valued at $9,126,000 after purchasing an additional 23,657 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 107 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of SiteOne Landscape Supply by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock worth $25,907,000 after acquiring an additional 11,574 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of SiteOne Landscape Supply by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock worth $20,679,000 after acquiring an additional 16,378 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in SiteOne Landscape Supply during the first quarter valued at $6,797,000.

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.