SiteOne Landscape Supply, Inc. (NYSE:SITE) CEO Doug Black Sells 29,760 Shares

SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) CEO Doug Black sold 29,760 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $129.28, for a total value of $3,847,372.80. Following the completion of the sale, the chief executive officer owned 596,684 shares in the company, valued at $77,139,307.52. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SiteOne Landscape Supply Price Performance

Shares of NYSE:SITE traded up $1.72 during trading on Thursday, reaching $125.47. 386,859 shares of the company's stock traded hands, compared to its average volume of 421,408. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.75. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.39. The firm has a market cap of $5.62 billion, a PE ratio of 49.99, a P/E/G ratio of 2.03 and a beta of 1.55. The company has a 50-day simple moving average of $122.28 and a 200-day simple moving average of $125.45.

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

Analyst Ratings Changes

SITE has been the topic of a number of analyst reports. Stifel Nicolaus cut their target price on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Truist Financial lowered their target price on SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Royal Bank Of Canada decreased their price objective on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on SiteOne Landscape Supply in a report on Tuesday, April 1st. They set a "hold" rating and a $135.00 price objective for the company. Finally, Barclays cut their target price on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $145.70.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. HM Payson & Co. purchased a new stake in shares of SiteOne Landscape Supply during the 1st quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new stake in shares of SiteOne Landscape Supply during the first quarter worth $32,000. Golden State Wealth Management LLC increased its position in shares of SiteOne Landscape Supply by 106.1% during the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after acquiring an additional 139 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in SiteOne Landscape Supply in the fourth quarter valued at $40,000. Finally, Eastern Bank purchased a new position in SiteOne Landscape Supply in the first quarter valued at $38,000.

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.