SiteOne Landscape Supply (NYSE:SITE) Share Price Breaks Above Two Hundred Day Moving Average – Time to Sell?

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-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.

Wall Street Analyst Weigh In

SITE has been the topic of a number of recent research reports. UBS Group upped their target price on SiteOne Landscape Supply from $110.00 to $122.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Truist Financial dropped their price objective on shares of 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. Stifel Nicolaus cut their target price on SiteOne Landscape Supply from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, October 26th. Barclays cut their target price on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Finally, Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus target price of $123.00.

SiteOne Landscape Supply Stock Up 6.0%

The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 1.74 and a beta of 1.29. The firm’s 50 day simple moving average is $95.79 and its 200-day simple moving average is $116.09. The company has a current ratio of 2.41, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.46. SiteOne Landscape Supply had a return on equity of 10.06% and a net margin of 3.49%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. SiteOne Landscape Supply’s quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.74 EPS for the current fiscal year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, CEO Doug Black bought 9,100 shares of the business’s stock in a transaction on Friday, October 30th. The stock was bought at an average price of $110.30 per share, for a total transaction of $1,003,730.00. Following the completion of the transaction, the chief executive officer owned 18,141 shares in the company, valued at approximately $2,000,952.30. The trade was a 100.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of institutional investors have recently made changes to their positions in the stock. Basecamp Wealth Advisors LLC raised its stake 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 purchasing an additional 127 shares during the last quarter. Whittier Trust Co. raised its stake in SiteOne Landscape Supply by 72.7% during the first quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 88 shares during the period. Fortitude Family Office LLC boosted its holdings in SiteOne Landscape Supply by 2,178.6% in the third quarter. Fortitude Family Office LLC now owns 319 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 305 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of SiteOne Landscape Supply by 114.3% in the 3rd quarter. Versant Capital Management Inc now owns 420 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 224 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in SiteOne Landscape Supply by 182.6% during the first quarter. Bessemer Group Inc. now owns 373 shares of the industrial products company’s stock valued at $50,000 after buying an additional 241 shares in the last quarter.

SiteOne Landscape Supply Company Profile

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.