SiteOne Landscape Supply (NYSE:SITE) Rating Lowered to Sell at Wall Street Zen

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

Several other research firms have also recently weighed in on SITE. Royal Bank Of Canada cut their price target on shares of SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of SiteOne Landscape Supply in a research note on Tuesday, April 1st. They issued a "hold" rating and a $135.00 price target on the stock. Loop Capital lowered their price target on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a report on Friday, April 4th. Stifel Nicolaus lowered their price target on SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Finally, Barclays lowered their price objective 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $145.70.

SiteOne Landscape Supply Trading Up 3.0%

SiteOne Landscape Supply stock traded up $3.66 during mid-day trading on Friday, hitting $126.82. 121,963 shares of the stock were exchanged, compared to its average volume of 420,395. The firm's fifty day simple moving average is $122.27 and its two-hundred day simple moving average is $125.28. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 50.40, a PEG ratio of 2.04 and a beta of 1.55. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.39. SiteOne Landscape Supply has a 12 month low of $101.25 and a 12 month high of $160.75.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS 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 previous year, the company posted ($0.43) earnings per share. Analysts forecast that SiteOne Landscape Supply will post 3.61 EPS for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 29,760 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 596,684 shares in the company, valued at approximately $77,139,307.52. This represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joseph Ketter sold 39,640 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $126.28, for a total transaction of $5,005,739.20. Following the sale, the executive vice president directly owned 13,663 shares in the company, valued at approximately $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. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiteOne Landscape Supply

Institutional investors and hedge funds have recently modified their holdings of the company. HM Payson & Co. purchased a new position in shares of SiteOne Landscape Supply in the 1st quarter valued at about $25,000. Brooklyn Investment Group purchased a new position in shares of SiteOne Landscape Supply in the 1st quarter valued at about $32,000. Golden State Wealth Management LLC increased its stake 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 purchasing an additional 139 shares during the last quarter. Eastern Bank purchased a new position in SiteOne Landscape Supply in the first quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in SiteOne Landscape Supply in the fourth quarter valued at approximately $40,000.

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.