SiteOne Landscape Supply (NYSE:SITE) Shares Gap Down to $156.89

SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $156.89, but opened at $143.85. SiteOne Landscape Supply shares last traded at $138.80, with a volume of 112,886 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Loop Capital cut shares of SiteOne Landscape Supply from a "buy" rating to a "hold" rating in a report on Monday, January 8th. Truist Financial raised their target price on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the stock a "buy" rating in a report on Thursday, February 15th. Barclays raised their target price on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an "underweight" rating in a report on Thursday, February 15th. Robert W. Baird raised their target price on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the stock an "outperform" rating in a report on Thursday, February 15th. Finally, Royal Bank of Canada raised their target price on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a "sector perform" rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply has a consensus rating of "Hold" and a consensus price target of $172.88.

SiteOne Landscape Supply Trading Down 8.5 %

The company has a current ratio of 2.43, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The firm has a market cap of $6.49 billion, a PE ratio of 38.69 and a beta of 1.54. The company's 50-day moving average is $170.37 and its 200 day moving average is $156.86.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.07. The business had revenue of $965.00 million during the quarter, compared to the consensus estimate of $942.21 million. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) EPS. As a group, sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 4.04 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Doug Black sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the transaction, the chief executive officer now owns 574,657 shares in the company, valued at approximately $93,151,899.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO John T. Guthrie sold 3,000 shares of the firm's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the transaction, the chief financial officer now directly owns 15,467 shares in the company, valued at approximately $2,784,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Doug Black sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the transaction, the chief executive officer now owns 574,657 shares in the company, valued at $93,151,899.70. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock worth $3,924,500 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SiteOne Landscape Supply

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp lifted its holdings in shares of SiteOne Landscape Supply by 1.5% during the 3rd quarter. Northern Trust Corp now owns 221,336 shares of the industrial products company's stock worth $36,177,000 after acquiring an additional 3,301 shares during the period. WCM Investment Management LLC lifted its holdings in shares of SiteOne Landscape Supply by 33.4% during the 4th quarter. WCM Investment Management LLC now owns 33,429 shares of the industrial products company's stock worth $5,483,000 after acquiring an additional 8,379 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of SiteOne Landscape Supply by 10.8% during the 4th quarter. Handelsbanken Fonder AB now owns 229,237 shares of the industrial products company's stock worth $37,251,000 after acquiring an additional 22,400 shares during the period. Hsbc Holdings PLC bought a new position in shares of SiteOne Landscape Supply during the 3rd quarter worth about $1,826,000. Finally, Trexquant Investment LP bought a new position in shares of SiteOne Landscape Supply during the 3rd quarter worth about $4,060,000.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.