Insider Buying: SiteOne Landscape Supply (NYSE:SITE) CEO Buys $480,650.00 in Stock

SiteOne Landscape Supply, Inc. (NYSE:SITE) CEO Doug Black purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average cost of $96.13 per share, for a total transaction of $480,650.00. Following the completion of the purchase, the chief executive officer directly owned 13,000 shares in the company, valued at approximately $1,249,690. This trade represents a 62.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Doug Black also recently made the following trade(s):

• On Tuesday, August 4th, Doug Black purchased 8,000 shares of SiteOne Landscape Supply stock. The shares were purchased at an average price of $102.03 per share, with a total value of $816,240.00.

SiteOne Landscape Supply Price Performance

SITE stock opened at $96.56 on Monday. The firm’s 50-day moving average price is $102.73 and its two-hundred day moving average price is $119.69. SiteOne Landscape Supply, Inc. has a 12-month low of $90.07 and a 12-month high of $168.56. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.40 and a beta of 1.35. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.22). SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the company posted $2.86 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SITE. UBS Group decreased their target price on SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Robert W. Baird reduced their price objective on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Weiss Ratings lowered shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Zacks Research cut shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Finally, Barclays cut their target price on shares of SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average target price of $135.27.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in SiteOne Landscape Supply by 11,170.3% in the second quarter. California State Teachers Retirement System now owns 5,861,568 shares of the industrial products company’s stock worth $670,622,000 after purchasing an additional 5,809,559 shares during the period. Wasatch Advisors LP lifted its position in SiteOne Landscape Supply by 11.4% during the third quarter. Wasatch Advisors LP now owns 2,177,446 shares of the industrial products company’s stock valued at $280,455,000 after buying an additional 222,959 shares during the period. Bamco Inc. NY purchased a new position in SiteOne Landscape Supply during the second quarter valued at $232,115,000. BlackRock Inc. bought a new stake in shares of SiteOne Landscape Supply during the 2nd quarter valued at $221,355,000. Finally, Capital World Investors boosted its holdings in shares of SiteOne Landscape Supply by 37.9% during the 4th quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock valued at $174,675,000 after buying an additional 385,666 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.