SiteOne Landscape Supply (NYSE:SITE) Sets New 1-Year Low - Time to Sell?

Key Points

• SiteOne Landscape Supply shares fell to a new 52-week low of $89.32, well below their 50-day and 200-day moving averages of $99.96 and $115.73, respectively.
• Analysts have broadly reduced their price targets, resulting in a consensus “Hold” rating and an average target price of $135.27; ratings include seven Buys, six Holds, and one Sell.
• The company missed quarterly EPS estimates, reporting $3.14 versus the expected $3.36, while revenue reached $1.53 billion and grew 4.7% year over year. CEO Doug Black separately purchased 5,000 shares at an average price of $96.13.

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $89.32 and last traded at $89.5930, with a volume of 1362877 shares changing hands. The stock had previously closed at $92.82.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target on SiteOne Landscape Supply from $140.00 to $110.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. KeyCorp dropped their price objective on SiteOne Landscape Supply from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Truist Financial cut their target price on SiteOne Landscape Supply from $200.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Robert W. Baird reduced their target price on SiteOne Landscape Supply from $160.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, July 28th. Finally, Barclays decreased their price target on SiteOne Landscape Supply from $129.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $135.27.

SiteOne Landscape Supply Price Performance

The business's 50-day moving average price is $99.96 and its 200 day moving average price is $115.73. The stock has a market capitalization of $3.91 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 1.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.22). The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.54 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.86 EPS. Research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black purchased 5,000 shares of the stock in a transaction on Wednesday, August 26th. The shares were purchased at an average price of $96.13 per share, with a total value of $480,650.00. Following the acquisition, the chief executive officer directly owned 13,000 shares in the company, valued at approximately $1,249,690. The trade was a 62.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. lifted 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 worth $27,000 after purchasing an additional 88 shares during the period. Parallel Advisors LLC raised its stake in SiteOne Landscape Supply by 15.6% in the first quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company's stock worth $87,000 after buying an additional 88 shares in the last quarter. Basecamp Wealth Advisors LLC raised its stake in SiteOne Landscape Supply by 219.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company's stock worth $25,000 after buying an additional 127 shares in the last quarter. IFP Advisors Inc lifted its holdings in SiteOne Landscape Supply by 106.8% in the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company's stock worth $38,000 after buying an additional 158 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC lifted its holdings in SiteOne Landscape Supply by 3.0% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 6,091 shares of the industrial products company's stock worth $811,000 after buying an additional 176 shares during the period.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape, irrigation, and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, golf course professionals, green-industry businesses, municipalities, and other commercial customers through a network of local branches and distribution facilities.

Its product offerings include irrigation and water-management systems, nursery and landscape supplies, seed, fertilizer, turf and ornamental plant protection products, landscape lighting, hardscape materials, outdoor living products, and related maintenance equipment.

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