SiteOne Landscape Supply (NYSE:SITE) Releases Earnings Results

SiteOne Landscape Supply (NYSE:SITE) released its quarterly earnings data on Wednesday. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.21), Briefing.com reports. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 10.27%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS.

SiteOne Landscape Supply Stock Down 4.2 %

Shares of SITE stock traded down $6.24 on Thursday, hitting $141.96. The stock had a trading volume of 301,601 shares, compared to its average volume of 363,992. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.47 and a quick ratio of 1.10. The business has a 50 day moving average of $143.39 and a 200 day moving average of $142.08. SiteOne Landscape Supply has a 12-month low of $114.60 and a 12-month high of $188.01. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 41.28 and a beta of 1.53.

Insider Buying and Selling

In other SiteOne Landscape Supply news, Director Fred M. Diaz sold 878 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $129.04, for a total value of $113,297.12. Following the completion of the sale, the director now directly owns 11,267 shares of the company’s stock, valued at approximately $1,453,893.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SITE has been the subject of several research analyst reports. Royal Bank of Canada decreased their price target on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Truist Financial increased their price target on SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. UBS Group decreased their price objective on SiteOne Landscape Supply from $190.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. The Goldman Sachs Group assumed coverage on SiteOne Landscape Supply in a research report on Thursday, October 10th. They set a “neutral” rating and a $158.00 target price on the stock. Finally, Barclays boosted their price target on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $147.80.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.