SiteOne Landscape Supply (NYSE:SITE) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $116.09 and traded as high as $119.56. SiteOne Landscape Supply shares last traded at $118.3720, with a volume of 1,518,138 shares changing hands.

Analysts Set New Price Targets

SITE has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “neutral” rating and set a $114.00 price objective on shares of SiteOne Landscape Supply in a report on Wednesday, October 28th. Weiss Ratings upgraded SiteOne Landscape Supply from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 22nd. Zacks Research downgraded SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Stifel Nicolaus lowered their price target on SiteOne Landscape Supply from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, October 26th. Finally, William Blair restated a “market perform” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, October 7th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $123.00.

SiteOne Landscape Supply Stock Up 6.0%

The company has a 50 day moving average of $95.79 and a 200-day moving average of $116.09. The company has a market cap of $5.11 billion, a P/E ratio of 31.15, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.41 and a quick ratio of 1.03.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.46 EPS for the quarter, hitting the consensus estimate of $1.46. SiteOne Landscape Supply had a net margin of 3.49% and a return on equity of 10.06%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm posted $1.31 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that SiteOne Landscape Supply, Inc. will post 3.74 earnings per share for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, CEO Doug Black bought 9,100 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was purchased at an average price of $110.30 per share, with a total value of $1,003,730.00. Following the transaction, the chief executive officer owned 18,141 shares of the company’s stock, valued at approximately $2,000,952.30. The trade was a 100.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Trading of SiteOne Landscape Supply

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Basecamp Wealth Advisors LLC increased its holdings in SiteOne Landscape Supply by 219.0% in the 1st 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 last quarter. Whittier Trust Co. lifted its holdings in shares of SiteOne Landscape Supply by 72.7% in the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 88 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of SiteOne Landscape Supply by 2,178.6% during the third quarter. Fortitude Family Office LLC now owns 319 shares of the industrial products company’s stock valued at $29,000 after buying an additional 305 shares during the period. Bessemer Group Inc. grew its position in SiteOne Landscape Supply by 182.6% in the 1st quarter. Bessemer Group Inc. now owns 373 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 241 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of SiteOne Landscape Supply by 114.3% in the third quarter. Versant Capital Management Inc now owns 420 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 224 shares during the last quarter.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc (NYSE: SITE) is a wholesale distributor of landscape and outdoor living products in the United States and Canada. The company serves landscape professionals, irrigation contractors, golf course and sports-turf managers, nursery and greenhouse operators, and other customers in the green industry.

Its product offerings include irrigation and water-management systems, landscape lighting, nursery and greenhouse supplies, fertilizers and other agronomic products, turf-care equipment, hardscape materials, outdoor living products, and pest-control supplies.