SiteOne Landscape Supply, Inc. $SITE Position Cut by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC cut its stake in SiteOne Landscape Supply by 44.2% in the first quarter, leaving it with 58,315 shares valued at about $7.76 million.
• Analyst sentiment is mixed: several firms recently lowered or reiterated ratings, and the stock currently carries an average Hold rating with a consensus price target of $159.70.
• Recent results were weak, as SiteOne reported quarterly EPS of $0.60 loss versus expectations of a $0.33 loss and revenue of $940.1 million, missing estimates; the stock was trading at $116.34, below its 200-day average.

SG Americas Securities LLC reduced its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 44.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,315 shares of the industrial products company's stock after selling 46,226 shares during the quarter. SG Americas Securities LLC owned 0.13% of SiteOne Landscape Supply worth $7,762,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its holdings in shares of SiteOne Landscape Supply by 11.4% during the third quarter. Wasatch Advisors LP now owns 2,177,446 shares of the industrial products company's stock valued at $280,455,000 after purchasing an additional 222,959 shares during the period. Bamco Inc. NY lifted its holdings in SiteOne Landscape Supply by 3.1% in the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company's stock worth $252,653,000 after purchasing an additional 61,490 shares during the period. 59 North Capital Management LP bought a new position in SiteOne Landscape Supply in the 3rd quarter valued at about $214,417,000. Capital World Investors grew its position in SiteOne Landscape Supply by 37.9% in the 4th quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company's stock valued at $174,675,000 after buying an additional 385,666 shares in the last quarter. Finally, State Street Corp increased its stake in SiteOne Landscape Supply by 1.7% during the 2nd quarter. State Street Corp now owns 777,354 shares of the industrial products company's stock valued at $94,013,000 after buying an additional 12,766 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Robert W. Baird set a $160.00 price target on shares of SiteOne Landscape Supply in a research report on Thursday, April 30th. Bank of America lowered their price objective on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. UBS Group restated a "neutral" rating on shares of SiteOne Landscape Supply in a research report on Thursday. Barclays decreased their price target on SiteOne Landscape Supply from $150.00 to $148.00 and set an "equal weight" rating for the company in a research note on Thursday, April 30th. Finally, Zacks Research cut SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a research report on Monday, June 22nd. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $159.70.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $116.34 on Friday. The company has a 50-day moving average of $117.95 and a 200-day moving average of $130.79. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 1.56 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, Inc. has a twelve month low of $100.52 and a twelve month high of $168.56.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $940.10 million during the quarter, compared to the consensus estimate of $982.27 million. During the same quarter in the previous year, the firm earned ($0.61) earnings per share. The firm's revenue for the quarter was up .1% compared to the same quarter last year. Analysts forecast that SiteOne Landscape Supply, Inc. will post 4.06 earnings per share for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 563 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was 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 of the company's stock, valued at approximately $1,361,872.77. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.