SiteOne Landscape Supply (NYSE:SITE) Reaches New 52-Week Low – Here’s What Happened

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $89.32 and last traded at $89.5930, with a volume of 1362877 shares traded. The stock had previously closed at $92.82.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings raised SiteOne Landscape Supply from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. KeyCorp reduced their price objective on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Truist Financial lowered their price objective on SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Robert W. Baird dropped their target price on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Finally, Barclays dropped their target price on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $135.27.

SiteOne Landscape Supply Stock Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.30. The firm has a market cap of $3.82 billion, a P/E ratio of 23.98, a P/E/G ratio of 1.29 and a beta of 1.34. The business’s 50-day simple moving average is $99.08 and its 200 day simple moving average is $114.94.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the business posted $2.86 earnings per share. The company’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.

Insiders Place Their Bets

In other SiteOne Landscape Supply news, CEO Doug Black purchased 8,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was acquired at an average price of $102.03 per share, for a total transaction of $816,240.00. Following the purchase, the chief executive officer owned 8,000 shares of the company’s stock, valued at approximately $816,240. This represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

Several hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new stake in SiteOne Landscape Supply during the 2nd quarter worth about $6,977,000. Bamco Inc. NY increased its position in SiteOne Landscape Supply by 3.1% during the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock worth $252,653,000 after purchasing an additional 61,490 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of SiteOne Landscape Supply during the 2nd quarter worth $3,059,000. Summit Creek Advisors LLC raised its holdings in shares of SiteOne Landscape Supply by 22.1% in the 4th quarter. Summit Creek Advisors LLC now owns 73,442 shares of the industrial products company’s stock worth $9,148,000 after purchasing an additional 13,312 shares during the period. Finally, Norges Bank purchased a new position in SiteOne Landscape Supply in the fourth quarter valued at approximately $18,925,000.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a wholesale distributor of landscape, irrigation, and outdoor living products serving professional customers across the United States and Canada. The company supplies landscape contractors, golf course professionals, green-industry businesses, municipalities, and other commercial customers through a network of local branches and distribution facilities.

Its product offerings include irrigation and water-management systems, nursery and landscape supplies, seed, fertilizer, turf and ornamental plant protection products, landscape lighting, hardscape materials, outdoor living products, and related maintenance equipment.