SiteOne Landscape Supply (NYSE:SITE) Sets New 52-Week Low - Here's What Happened

Key Points

• SiteOne Landscape Supply (NYSE:SITE) hit a new 52-week low, trading as low as $99.99 and closing near $100.83, down about 1.6% on the day.
• Recent analyst actions were mixed, but the overall sentiment remains cautious: the stock has a consensus Hold rating and an average price target of $156.64 despite some firms cutting targets or downgrading shares.
• The company’s last earnings report missed expectations, with EPS of -$0.60 versus an expected -$0.33 and revenue of $940.1 million below estimates, even as revenue was slightly higher than a year ago.

SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report)'s share price hit a new 52-week low on Tuesday . The stock traded as low as $99.99 and last traded at $100.8340, with a volume of 21825 shares trading hands. The stock had previously closed at $102.78.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SITE. UBS Group reaffirmed a "neutral" rating on shares of SiteOne Landscape Supply in a report on Thursday, June 25th. Zacks Research downgraded shares of SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a report on Monday, June 22nd. KeyCorp initiated coverage on shares of SiteOne Landscape Supply in a research report on Monday, July 13th. They set an "overweight" rating and a $145.00 price objective for the company. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $148.00 to $129.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 14th. Finally, Bank of America dropped their target price on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $156.64.

SiteOne Landscape Supply Trading Down 1.6%

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 2.33. The firm has a market capitalization of $4.48 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 1.40 and a beta of 1.34. The firm has a 50 day moving average price of $109.69 and a two-hundred day moving average price of $128.64.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.27). SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The company had revenue of $940.10 million for the quarter, compared to analyst estimates of $982.27 million. During the same period last year, the firm earned ($0.61) earnings per share. The firm's revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts expect that SiteOne Landscape Supply, Inc. will post 4.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 563 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $115.13, for a total transaction of $64,818.19. Following the sale, the director owned 11,829 shares in the company, valued at approximately $1,361,872.77. The trade was a 4.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SITE. Basecamp Wealth Advisors LLC raised its holdings in shares of SiteOne Landscape Supply by 219.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 127 shares during the period. True Wealth Design LLC raised its stake in SiteOne Landscape Supply by 541.9% during the 4th quarter. True Wealth Design LLC now owns 199 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares during the period. Whittier Trust Co. raised its stake in SiteOne Landscape Supply by 72.7% during the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 88 shares during the period. Rothschild Investment LLC raised its stake in SiteOne Landscape Supply by 1,521.4% during the 4th quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 213 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of SiteOne Landscape Supply by 106.8% in the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 158 shares in the last quarter.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.

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