SiteOne Landscape Supply (NYSE:SITE) Shares Gap Down – Here’s Why

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) gapped down prior to trading on Thursday . The stock had previously closed at $98.10, but opened at $94.21. SiteOne Landscape Supply shares last traded at $95.22, with a volume of 22,890 shares trading hands.

Wall Street Analyst Weigh In

SITE has been the topic of several recent analyst reports. Zacks Research lowered shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research note on Monday, June 22nd. UBS Group cut their target price on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Barclays reduced their price target on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Robert W. Baird lowered their price target on SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Finally, Weiss Ratings lowered SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $135.27.

SiteOne Landscape Supply Price Performance

The company has a market capitalization of $4.19 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 1.38 and a beta of 1.35. The company’s 50-day moving average price is $103.96 and its two-hundred day moving average price is $121.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted $2.86 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current year.

Insider Activity at SiteOne Landscape Supply

In other news, Director Fred M. Diaz sold 562 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total transaction of $63,236.24. Following the completion of the sale, the director owned 11,267 shares in the company, valued at $1,267,762.84. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Doug Black bought 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average cost of $102.03 per share, for a total transaction of $816,240.00. Following the transaction, the chief executive officer directly owned 8,000 shares of the company’s stock, valued at $816,240. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Basecamp Wealth Advisors LLC lifted its holdings in shares of SiteOne Landscape Supply by 219.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after buying an additional 127 shares in the last quarter. Whittier Trust Co. boosted its position in shares of SiteOne Landscape Supply by 72.7% in the first quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 88 shares during the period. Rothschild Investment LLC grew its stake in shares of SiteOne Landscape Supply by 1,521.4% in the fourth quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 213 shares in the last quarter. IFP Advisors Inc grew its stake in shares of SiteOne Landscape Supply by 106.8% in the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in SiteOne Landscape Supply during the fourth quarter worth about $42,000.

SiteOne Landscape Supply Company Profile

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.