SiteOne Landscape Supply (NYSE:SITE) Sets New 1-Year Low After Analyst Downgrade

SiteOne Landscape Supply, Inc. (NYSE:SITE) reached a new 52-week low during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $120.00 to $106.00. Barclays currently has an underweight rating on the stock. SiteOne Landscape Supply traded as low as $103.70 and last traded at $104.65, with a volume of 651677 shares. The stock had previously closed at $109.56.

Several other research analysts also recently issued reports on the company. Robert W. Baird cut their price target on SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. UBS Group decreased their price objective on SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Sunday, March 16th. Royal Bank of Canada upped their price target on SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Finally, Loop Capital cut their target price on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SiteOne Landscape Supply currently has a consensus rating of “Hold” and an average target price of $149.70.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. raised its stake in shares of SiteOne Landscape Supply by 114,200.0% in the first quarter. NBC Securities Inc. now owns 3,429 shares of the industrial products company’s stock valued at $416,000 after acquiring an additional 3,426 shares during the last quarter. Rhumbline Advisers raised its stake 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 valued at $6,076,000 after purchasing an additional 2,635 shares in the last quarter. GAMMA Investing LLC grew its position in SiteOne Landscape Supply by 14,994.6% during the 1st quarter. GAMMA Investing LLC now owns 59,020 shares of the industrial products company’s stock worth $7,167,000 after acquiring an additional 58,629 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in SiteOne Landscape Supply during the fourth quarter valued at $233,000. Finally, Castlekeep Investment Advisors LLC acquired a new position in SiteOne Landscape Supply during the fourth quarter worth $608,000.

SiteOne Landscape Supply Stock Performance

The firm has a market cap of $5.13 billion, a PE ratio of 42.40 and a beta of 1.62. The company has a 50-day simple moving average of $126.93 and a two-hundred day simple moving average of $137.48. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. As a group, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

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.