SiteOne Landscape Supply (NYSE:SITE) Reaches New 52-Week Low – Time to Sell?

SiteOne Landscape Supply, Inc. (NYSE:SITE) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $99.99 and last traded at $100.8340, with a volume of 21825 shares. The stock had previously closed at $102.78.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Robert W. Baird set a $160.00 target price on shares of SiteOne Landscape Supply in a report on Thursday, April 30th. Barclays cut their price target on shares of SiteOne Landscape Supply from $148.00 to $129.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of SiteOne Landscape Supply from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Finally, 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 research report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus target price of $156.64.

SiteOne Landscape Supply Trading Up 1.4%

The company has a fifty day simple moving average of $109.03 and a two-hundred day simple moving average of $128.33. The company has a market capitalization of $4.58 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.27). SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The company had revenue of $940.10 million for the quarter, compared to the consensus estimate of $982.27 million. During the same quarter last year, the company posted ($0.61) EPS. The business’s revenue was up .1% compared to the same quarter last year. On average, analysts forecast that SiteOne Landscape Supply, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fred M. Diaz sold 563 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $115.13, for a total value of $64,818.19. Following the transaction, the director owned 11,829 shares in the company, valued at $1,361,872.77. This trade represents a 4.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several large investors have recently made changes to their positions in SITE. Millennium Management LLC increased its position in SiteOne Landscape Supply by 45.9% in the 1st quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock worth $9,126,000 after buying an additional 23,657 shares during the period. NewEdge Advisors LLC grew 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. grew its stake in shares of SiteOne Landscape Supply by 5.7% in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 during the period. Finally, Jane Street Group LLC bought a new position in SiteOne Landscape Supply during the first quarter worth $6,797,000.

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.