SiteOne Landscape Supply (NYSE:SITE) EVP Sells $278,887.65 in Stock

SiteOne Landscape Supply, Inc. (NYSE:SITE) EVP Eric Elema sold 1,765 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $158.01, for a total transaction of $278,887.65. Following the sale, the executive vice president directly owned 2,911 shares of the company’s stock, valued at approximately $459,967.11. This represents a 37.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE opened at $150.47 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.49 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $140.37 and its two-hundred day moving average price is $135.08. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week high of $168.56. The stock has a market capitalization of $6.70 billion, a P/E ratio of 44.78, a P/E/G ratio of 1.94 and a beta of 1.59.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.09. SiteOne Landscape Supply had a return on equity of 9.33% and a net margin of 3.23%.The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm earned ($0.48) EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analysts Set New Price Targets

SITE has been the subject of several recent research reports. Truist Financial upped their price target on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada upped their target price on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Zacks Research upgraded shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Stifel Nicolaus set a $144.00 price objective on SiteOne Landscape Supply in a research report on Monday, February 9th. Finally, Bank of America began coverage on SiteOne Landscape Supply in a research report on Thursday, December 18th. They issued a “buy” rating and a $147.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $159.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. 59 North Capital Management LP acquired a new position in shares of SiteOne Landscape Supply during the third quarter valued at approximately $214,417,000. Cartenna Capital LP bought a new position in SiteOne Landscape Supply during the 3rd quarter valued at $63,756,000. Amundi acquired a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at $59,763,000. AQR Capital Management LLC raised its stake in shares of SiteOne Landscape Supply by 171.0% in the 4th quarter. AQR Capital Management LLC now owns 691,558 shares of the industrial products company’s stock worth $86,140,000 after buying an additional 436,376 shares in the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of SiteOne Landscape Supply in the fourth quarter valued at $49,824,000.

About SiteOne Landscape Supply

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.