SiteOne Landscape Supply (NYSE:SITE) Downgraded by ValuEngine

ValuEngine cut shares of SiteOne Landscape Supply (NYSE:SITE) from a buy rating to a hold rating in a report published on Wednesday, ValuEngine reports.

Other equities research analysts also recently issued research reports about the stock. TheStreet raised shares of SiteOne Landscape Supply from a c- rating to a b- rating in a research report on Thursday, June 13th. Royal Bank of Canada boosted their target price on shares of SiteOne Landscape Supply to $68.00 and gave the stock a sector perform rating in a research report on Thursday, August 1st. Berenberg Bank downgraded shares of SiteOne Landscape Supply from a buy rating to a hold rating in a research report on Wednesday, August 7th. Robert W. Baird raised shares of SiteOne Landscape Supply from a neutral rating to an outperform rating and boosted their target price for the stock from $64.00 to $77.00 in a research report on Tuesday, June 25th. Finally, Zacks Investment Research raised shares of SiteOne Landscape Supply from a strong sell rating to a hold rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. SiteOne Landscape Supply presently has an average rating of Hold and an average price target of $73.11.

SiteOne Landscape Supply stock traded up $0.42 during midday trading on Wednesday, hitting $71.38. 264,185 shares of the stock were exchanged, compared to its average volume of 389,522. SiteOne Landscape Supply has a 1 year low of $45.32 and a 1 year high of $81.41. The firm has a market cap of $2.94 billion, a P/E ratio of 41.26 and a beta of 1.02. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.50 and a quick ratio of 1.13. The company has a 50 day moving average price of $75.74 and a two-hundred day moving average price of $68.32.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.10). The company had revenue of $752.40 million during the quarter, compared to the consensus estimate of $774.03 million. SiteOne Landscape Supply had a return on equity of 22.24% and a net margin of 3.08%. SiteOne Landscape Supply’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. As a group, analysts predict that SiteOne Landscape Supply will post 1.62 EPS for the current year.

In other news, VP Joseph Ketter sold 4,500 shares of SiteOne Landscape Supply stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $77.93, for a total value of $350,685.00. Following the completion of the transaction, the vice president now directly owns 10,233 shares of the company’s stock, valued at approximately $797,457.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Greg Weller sold 922 shares of SiteOne Landscape Supply stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $72.05, for a total transaction of $66,430.10. Following the completion of the transaction, the vice president now directly owns 10,361 shares of the company’s stock, valued at $746,510.05. The disclosure for this sale can be found here. Insiders sold a total of 40,754 shares of company stock valued at $2,947,184 in the last three months. Insiders own 4.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its holdings in shares of SiteOne Landscape Supply by 451.2% in the 1st quarter. Advisory Services Network LLC now owns 474 shares of the industrial products company’s stock valued at $27,000 after buying an additional 388 shares during the period. Captrust Financial Advisors acquired a new position in shares of SiteOne Landscape Supply in the 2nd quarter valued at about $40,000. Cubist Systematic Strategies LLC acquired a new position in shares of SiteOne Landscape Supply in the 2nd quarter valued at about $62,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of SiteOne Landscape Supply by 103.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,374 shares of the industrial products company’s stock valued at $95,000 after buying an additional 699 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of SiteOne Landscape Supply in the 2nd quarter valued at about $215,000.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 120,000 stock keeping units, including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, outdoor lightings, and ice melt products, as well as hardscapes, such as pavers, natural stones, and blocks.

Featured Article: What is meant by buying and selling pressure?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SiteOne Landscape Supply (NYSE:SITE)

Receive News & Ratings for SiteOne Landscape Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiteOne Landscape Supply and related companies with MarketBeat.com's FREE daily email newsletter.