SiteOne Landscape Supply (SITE) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of SiteOne Landscape Supply (NYSE:SITE) from a hold rating to a sell rating in a research 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. “

A number of other equities research analysts have also recently issued reports on SITE. Goldman Sachs Group initiated coverage on SiteOne Landscape Supply in a research note on Tuesday, October 2nd. They set a buy rating and a $111.00 price objective on the stock. ValuEngine cut SiteOne Landscape Supply from a buy rating to a hold rating in a research note on Monday, October 8th. UBS Group upgraded SiteOne Landscape Supply from a sell rating to a neutral rating and set a $75.00 price target on the stock in a research note on Thursday, October 11th. Jefferies Financial Group started coverage on SiteOne Landscape Supply in a research note on Friday, October 12th. They issued a buy rating and a $80.00 price target on the stock. Finally, Royal Bank of Canada set a $88.00 price target on SiteOne Landscape Supply and gave the company a buy rating in a research note on Thursday, November 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $78.78.

Shares of SiteOne Landscape Supply stock opened at $58.47 on Wednesday. SiteOne Landscape Supply has a 12-month low of $50.03 and a 12-month high of $95.49. The company has a market cap of $2.41 billion, a PE ratio of 48.32 and a beta of 1.41. The company has a current ratio of 2.72, a quick ratio of 1.29 and a debt-to-equity ratio of 1.90.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.02). SiteOne Landscape Supply had a return on equity of 31.11% and a net margin of 3.90%. The company had revenue of $578.50 million for the quarter, compared to the consensus estimate of $590.23 million. During the same quarter in the prior year, the company earned $0.41 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts expect that SiteOne Landscape Supply will post 1.94 earnings per share for the current fiscal year.

In other SiteOne Landscape Supply news, EVP L Briley Brisendine, Jr. sold 1,600 shares of the company’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $65.00, for a total value of $104,000.00. Following the transaction, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at approximately $1,151,020. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Pascal Convers sold 9,750 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $69.79, for a total value of $680,452.50. Following the completion of the transaction, the executive vice president now directly owns 19,308 shares in the company, valued at $1,347,505.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,700 shares of company stock worth $5,066,830. 4.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Synovus Financial Corp grew its holdings in shares of SiteOne Landscape Supply by 155.6% during the 3rd quarter. Synovus Financial Corp now owns 1,687 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 1,027 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth $257,000. GSA Capital Partners LLP acquired a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth $295,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth $302,000. Finally, SG Americas Securities LLC grew its holdings in shares of SiteOne Landscape Supply by 87.6% during the 2nd quarter. SG Americas Securities LLC now owns 4,104 shares of the industrial products company’s stock worth $345,000 after purchasing an additional 1,916 shares in the last quarter.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.

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