Insider Selling: SiteOne Landscape Supply, Inc. (NYSE:SITE) CEO Sells 29,760 Shares of Stock

SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) CEO Doug Black sold 29,760 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $129.28, for a total value of $3,847,372.80. Following the sale, the chief executive officer owned 596,684 shares in the company, valued at $77,139,307.52. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

SiteOne Landscape Supply Stock Performance

NYSE SITE traded down $5.01 during trading hours on Tuesday, hitting $122.02. The company had a trading volume of 308,291 shares, compared to its average volume of 424,126. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 2.36. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.75. The company has a market cap of $5.47 billion, a PE ratio of 48.61, a price-to-earnings-growth ratio of 2.08 and a beta of 1.55. The business has a 50 day moving average of $122.10 and a 200-day moving average of $125.50.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.11). SiteOne Landscape Supply had a net margin of 2.53% and a return on equity of 7.31%. The company had revenue of $939.40 million during the quarter, compared to analyst estimates of $933.90 million. During the same quarter in the prior year, the company earned ($0.43) EPS. The business's revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several hedge funds have recently made changes to their positions in SITE. HM Payson & Co. purchased a new position in SiteOne Landscape Supply during the first quarter worth about $25,000. Brooklyn Investment Group purchased a new position in SiteOne Landscape Supply in the first quarter valued at about $32,000. Golden State Wealth Management LLC increased its holdings in SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock valued at $33,000 after buying an additional 139 shares in the last quarter. Eastern Bank purchased a new position in SiteOne Landscape Supply in the first quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in SiteOne Landscape Supply in the fourth quarter valued at about $40,000.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Truist Financial decreased their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Loop Capital decreased their target price on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a research note on Friday, April 4th. Royal Bank Of Canada decreased their target price on shares of SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays decreased their target price on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $145.70.

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.