SiteOne Landscape Supply, Inc. (NYSE:SITE) CEO Doug Black Sells 29,760 Shares of Stock

SiteOne Landscape Supply, Inc. (NYSE:SITE) CEO Doug Black sold 29,760 shares of the business’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $129.28, for a total transaction of $3,847,372.80. Following the completion of the transaction, the chief executive officer directly owned 596,684 shares in the company, valued at $77,139,307.52. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

SiteOne Landscape Supply Price Performance

NYSE SITE opened at $127.19 on Tuesday. SiteOne Landscape Supply, Inc. has a one year low of $101.25 and a one year high of $160.75. The stock has a 50-day moving average of $121.89 and a 200 day moving average of $125.57. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 50.67, a PEG ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 2.36.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.11). SiteOne Landscape Supply had a return on equity of 7.31% and a net margin of 2.53%. The business had revenue of $939.40 million during the quarter, compared to the consensus estimate of $933.90 million. During the same quarter in the previous year, the business posted ($0.43) earnings per share. SiteOne Landscape Supply’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SITE shares. Wall Street Zen upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Thursday, May 1st. Stifel Nicolaus lowered their price objective on SiteOne Landscape Supply from $145.00 to $126.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Barclays lowered their price objective on SiteOne Landscape Supply from $120.00 to $106.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Truist Financial lowered their price objective on SiteOne Landscape Supply from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on SiteOne Landscape Supply in a research note on Tuesday, April 1st. They issued a “hold” rating and a $135.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, SiteOne Landscape Supply presently has an average rating of “Hold” and a consensus price target of $145.70.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several large investors have recently bought and sold shares of the business. Mitchell & Pahl Private Wealth LLC boosted its position in SiteOne Landscape Supply by 13.0% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 5,692 shares of the industrial products company’s stock worth $688,000 after purchasing an additional 656 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in SiteOne Landscape Supply in the second quarter worth about $989,000. Parallel Advisors LLC boosted its position in SiteOne Landscape Supply by 49.5% in the second quarter. Parallel Advisors LLC now owns 562 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 186 shares during the last quarter. Voya Investment Management LLC boosted its position in SiteOne Landscape Supply by 34.5% in the first quarter. Voya Investment Management LLC now owns 211,650 shares of the industrial products company’s stock worth $25,703,000 after purchasing an additional 54,231 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in SiteOne Landscape Supply by 5.6% in the first quarter. Rhumbline Advisers now owns 50,037 shares of the industrial products company’s stock worth $6,076,000 after purchasing an additional 2,635 shares during the last quarter.

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.