SiteOne Landscape Supply (SITE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “SiteOne Landscape Supply, Inc. is a wholesale distributor of landscape supplies primarily in the United States. It provides irrigation supplies; fertilizer and control products such as herbicides; landscape accessories; turf protection products; grass seed; turf care equipment and golf course maintenance supplies and nursery goods as well as hardscapes, including pavers, natural stones, and blocks; outdoor lighting and ice melt products, as well as related value-added consultative services. SiteOne Landscape Supply, Inc. is headquartered in Roswell, Georgia. “

Other equities analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of SiteOne Landscape Supply from $48.00 to $56.00 and gave the stock an equal weight rating in a research note on Thursday, November 9th. Robert W. Baird lifted their price objective on shares of SiteOne Landscape Supply from $58.00 to $74.00 and gave the stock an outperform rating in a research note on Thursday, November 9th. BidaskClub upgraded shares of SiteOne Landscape Supply from a buy rating to a strong-buy rating in a report on Thursday, September 21st. SunTrust Banks raised their target price on shares of SiteOne Landscape Supply to $70.00 and gave the stock a buy rating in a report on Thursday, November 9th. Finally, UBS Group raised their target price on shares of SiteOne Landscape Supply from $54.00 to $66.00 and gave the stock a buy rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $67.50.

SiteOne Landscape Supply (SITE) opened at $73.33 on Wednesday. SiteOne Landscape Supply has a 52 week low of $36.06 and a 52 week high of $77.40. The company has a market cap of $2,916.19, a price-to-earnings ratio of 67.90 and a beta of 2.66. The company has a quick ratio of 1.21, a current ratio of 2.69 and a debt-to-equity ratio of 2.35.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.14). SiteOne Landscape Supply had a return on equity of 26.42% and a net margin of 2.49%. The business had revenue of $502.40 million during the quarter, compared to analysts’ expectations of $506.28 million. During the same period in the previous year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. sell-side analysts anticipate that SiteOne Landscape Supply will post 1.23 earnings per share for the current fiscal year.

In related news, CFO John T. Guthrie sold 20,000 shares of SiteOne Landscape Supply stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $70.91, for a total transaction of $1,418,200.00. Following the completion of the sale, the chief financial officer now owns 57,854 shares in the company, valued at approximately $4,102,427.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ross Anker sold 6,080 shares of SiteOne Landscape Supply stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $71.38, for a total transaction of $433,990.40. The disclosure for this sale can be found here. Insiders sold a total of 100,967 shares of company stock valued at $7,138,256 in the last 90 days. Company insiders own 4.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new stake in SiteOne Landscape Supply during the 2nd quarter valued at about $11,758,000. Schwab Charles Investment Management Inc. lifted its holdings in SiteOne Landscape Supply by 69.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 147,751 shares of the industrial products company’s stock valued at $7,692,000 after buying an additional 60,473 shares in the last quarter. Northern Trust Corp lifted its holdings in SiteOne Landscape Supply by 114.4% during the 2nd quarter. Northern Trust Corp now owns 433,782 shares of the industrial products company’s stock valued at $22,583,000 after buying an additional 231,495 shares in the last quarter. FMR LLC lifted its holdings in SiteOne Landscape Supply by 288.4% during the 2nd quarter. FMR LLC now owns 2,017,984 shares of the industrial products company’s stock valued at $105,056,000 after buying an additional 1,498,436 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in SiteOne Landscape Supply by 199.7% during the 2nd quarter. Legal & General Group Plc now owns 8,172 shares of the industrial products company’s stock valued at $423,000 after buying an additional 5,445 shares in the last quarter.

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SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.

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