SiteOne Landscape Supply (NYSE:SITE) Shares Down 5.4% - Here's Why

Key Points

• SiteOne Landscape Supply's shares fell by 5.4% during mid-day trading, hitting a low of $144.51 from a previous close of $151.99.
• In its recent quarterly earnings report, the company reported $1.46 billion in revenue, missing analysts' expectations, and an EPS of $2.86 which fell short of the forecast of $2.89.
• Despite the recent sell-off, Wall Street analysts maintain a consensus "Hold" rating for the stock, with a target price of $147.00.

SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) was down 5.4% during mid-day trading on Tuesday . The company traded as low as $144.51 and last traded at $143.85. Approximately 168,891 shares were traded during trading, a decline of 67% from the average daily volume of 515,528 shares. The stock had previously closed at $151.99.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SITE. Wall Street Zen raised shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada lifted their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $147.00.

SiteOne Landscape Supply Stock Performance

The stock has a 50 day moving average of $135.79 and a two-hundred day moving average of $125.41. The stock has a market capitalization of $6.43 billion, a PE ratio of 52.58, a P/E/G ratio of 2.55 and a beta of 1.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.06.

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). SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the business earned $2.63 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, EVP Joseph Ketter sold 39,640 shares of SiteOne Landscape Supply stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $126.28, for a total value of $5,005,739.20. Following the transaction, the executive vice president owned 13,663 shares of the company's stock, valued at $1,725,363.64. The trade was a 74.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Doug Black sold 29,760 shares of SiteOne Landscape Supply stock in a transaction on Friday, July 11th. The shares were sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the sale, the chief executive officer directly owned 596,684 shares of the company's stock, valued at $77,139,307.52. This trade represents a 4.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,784 shares of company stock worth $9,828,465. 2.60% of the stock is owned by insiders.

Institutional Trading of SiteOne Landscape Supply

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in SiteOne Landscape Supply by 12.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,079,615 shares of the industrial products company's stock worth $738,309,000 after buying an additional 660,081 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of SiteOne Landscape Supply by 31.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,092,742 shares of the industrial products company's stock valued at $254,143,000 after acquiring an additional 494,737 shares during the period. Bamco Inc. NY boosted its holdings in SiteOne Landscape Supply by 14.2% in the second quarter. Bamco Inc. NY now owns 1,941,817 shares of the industrial products company's stock valued at $234,843,000 after acquiring an additional 242,106 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in SiteOne Landscape Supply by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 1,183,574 shares of the industrial products company's stock worth $143,733,000 after purchasing an additional 16,120 shares during the period. Finally, State Street Corp raised its holdings in SiteOne Landscape Supply by 1.7% during the 2nd quarter. State Street Corp now owns 777,354 shares of the industrial products company's stock worth $94,013,000 after purchasing an additional 12,766 shares during the last quarter.

SiteOne Landscape Supply Company Profile

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.

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