SiteOne Landscape Supply, Inc. (NYSE:SITE) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• SiteOne Landscape Supply has a consensus recommendation of "Hold" from analysts, with one sell rating, five holds, and four buys among ten analysts covering the stock.
• The company reported earnings of $2.86 per share, missing analysts' expectation of $2.89, while revenue rose by 3.4% year-over-year, totaling $1.46 billion.
• Insiders at SiteOne Landscape Supply have recently sold a total of 76,784 shares, indicating a decrease in their ownership positions amidst fluctuating stock performance.

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) have been given an average recommendation of "Hold" by the ten brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $147.00.

A number of equities research analysts recently issued reports on SITE shares. Wall Street Zen upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Royal Bank Of Canada lifted their target price on shares of SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st.

Insider Activity

In other news, CEO Doug Black sold 7,384 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $132.09, for a total value of $975,352.56. Following the transaction, the chief executive officer owned 600,446 shares in the company, valued at approximately $79,312,912.14. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joseph Ketter sold 39,640 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the transaction, the executive vice president directly owned 13,663 shares of the company's stock, valued at $1,725,363.64. The trade was a 74.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,784 shares of company stock worth $9,828,465 in the last three months. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

Hedge funds and other institutional investors have recently modified their holdings of the stock. HM Payson & Co. bought a new stake in shares of SiteOne Landscape Supply in the 1st quarter worth about $25,000. Allworth Financial LP grew its position in shares of SiteOne Landscape Supply by 61.2% in the 2nd quarter. Allworth Financial LP now owns 237 shares of the industrial products company's stock worth $29,000 after buying an additional 90 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of SiteOne Landscape Supply in the 1st quarter worth approximately $32,000. Golden State Wealth Management LLC boosted its stake in SiteOne Landscape Supply by 106.1% in the 1st quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after purchasing an additional 139 shares in the last quarter. Finally, Eastern Bank acquired a new stake in SiteOne Landscape Supply in the 1st quarter worth approximately $38,000.

SiteOne Landscape Supply Stock Performance

SITE traded up $2.69 on Thursday, hitting $141.09. The company's stock had a trading volume of 504,325 shares, compared to its average volume of 510,247. The company's 50 day simple moving average is $137.33 and its 200-day simple moving average is $125.94. The firm has a market cap of $6.29 billion, a P/E ratio of 51.49, a price-to-earnings-growth ratio of 2.31 and a beta of 1.60. SiteOne Landscape Supply has a 12 month low of $101.25 and a 12 month high of $160.74. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $2.63 earnings per share. Analysts forecast that SiteOne Landscape Supply will post 3.61 EPS for the current year.

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.