SiteOne Landscape Supply (NYSE:SITE) Stock Passes Below 50-Day Moving Average – Here’s What Happened

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $125.23 and traded as low as $101.91. SiteOne Landscape Supply shares last traded at $105.24, with a volume of 1,129,963 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $157.00 target price for the company in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Thursday, April 30th. Bank of America decreased their target price 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. UBS Group assumed coverage on SiteOne Landscape Supply in a report on Friday, April 10th. They set a “neutral” rating and a $140.00 target price for the company. Finally, Robert W. Baird set a $160.00 target price on SiteOne Landscape Supply in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $160.10.

SiteOne Landscape Supply Stock Up 2.5%

The firm has a 50-day moving average of $125.23 and a 200 day moving average of $133.23. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 1.37 and a beta of 1.35. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly 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 company had revenue of $940.10 million for the quarter, compared to analyst estimates of $982.27 million. SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted ($0.61) earnings per share. On average, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 4.18 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Fred M. Diaz sold 563 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $115.13, for a total transaction of $64,818.19. Following the transaction, the director directly owned 11,829 shares of the company’s stock, valued at approximately $1,361,872.77. The trade was a 4.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Institutional investors have recently made changes to their positions in the business. True Wealth Design LLC raised its position in shares of SiteOne Landscape Supply by 541.9% in the 4th quarter. True Wealth Design LLC now owns 199 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 168 shares in the last quarter. Whittier Trust Co. raised its position in shares of SiteOne Landscape Supply by 72.7% in the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 88 shares in the last quarter. Rothschild Investment LLC raised its position in shares of SiteOne Landscape Supply by 1,521.4% in the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 213 shares in the last quarter. IFP Advisors Inc raised its position in shares of SiteOne Landscape Supply by 106.8% in the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of SiteOne Landscape Supply in the 4th quarter valued at approximately $42,000.

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.