SiteOne Landscape Supply (NYSE:SITE) Hits New 1-Year High at $92.39

SiteOne Landscape Supply Inc (NYSE:SITE)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $92.39 and last traded at $91.48, with a volume of 212827 shares. The stock had previously closed at $92.18.

Several research firms recently commented on SITE. Royal Bank of Canada raised their target price on SiteOne Landscape Supply to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. SunTrust Banks raised their target price on SiteOne Landscape Supply to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. They noted that the move was a valuation call. Zacks Investment Research raised SiteOne Landscape Supply from a “hold” rating to a “strong-buy” rating and set a $103.00 target price on the stock in a report on Thursday, November 7th. Berenberg Bank reaffirmed a “hold” rating and set a $70.00 target price on shares of SiteOne Landscape Supply in a report on Thursday, October 31st. Finally, ValuEngine lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. SiteOne Landscape Supply currently has a consensus rating of “Hold” and an average target price of $74.57.

The company has a debt-to-equity ratio of 1.99, a current ratio of 2.44 and a quick ratio of 1.11. The firm has a fifty day simple moving average of $79.09 and a 200 day simple moving average of $72.42. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 52.88 and a beta of 1.05.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. The company had revenue of $652.80 million for the quarter, compared to analyst estimates of $642.97 million. SiteOne Landscape Supply had a return on equity of 22.31% and a net margin of 3.18%. SiteOne Landscape Supply’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. Research analysts predict that SiteOne Landscape Supply Inc will post 2 EPS for the current year.

In other news, CFO John T. Guthrie sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $91.20, for a total value of $912,000.00. Following the transaction, the chief financial officer now owns 38,452 shares in the company, valued at $3,506,822.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joseph Ketter sold 4,500 shares of the firm’s stock in a transaction that occurred on 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 owns 10,233 shares in the company, valued at approximately $797,457.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,500 shares of company stock worth $2,943,185. Company insiders own 4.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SITE. Baillie Gifford & Co. lifted its position in shares of SiteOne Landscape Supply by 55.0% in the second quarter. Baillie Gifford & Co. now owns 4,017,424 shares of the industrial products company’s stock valued at $278,406,000 after acquiring an additional 1,425,508 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of SiteOne Landscape Supply by 36.2% in the second quarter. Wasatch Advisors Inc. now owns 1,839,579 shares of the industrial products company’s stock valued at $127,483,000 after acquiring an additional 488,656 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of SiteOne Landscape Supply by 76.1% in the second quarter. Macquarie Group Ltd. now owns 1,081,484 shares of the industrial products company’s stock valued at $74,947,000 after acquiring an additional 467,447 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of SiteOne Landscape Supply by 44.9% in the second quarter. Victory Capital Management Inc. now owns 1,223,095 shares of the industrial products company’s stock valued at $84,760,000 after acquiring an additional 379,095 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in shares of SiteOne Landscape Supply by 34.4% in the second quarter. GW&K Investment Management LLC now owns 838,725 shares of the industrial products company’s stock valued at $58,124,000 after acquiring an additional 214,636 shares in the last quarter.

About SiteOne Landscape Supply (NYSE:SITE)

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.

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