SiteOne Landscape Supply (NYSE:SITE) Announces Earnings Results

SiteOne Landscape Supply (NYSE:SITE – Get Rating) released its quarterly earnings results on Wednesday. The industrial products company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.11, Briefing.com reports. SiteOne Landscape Supply had a net margin of 7.45% and a return on equity of 25.37%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the company earned $2.70 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year.

SiteOne Landscape Supply Price Performance

Shares of SITE traded down $0.01 during mid-day trading on Friday, hitting $134.84. 238,222 shares of the company traded hands, compared to its average volume of 293,864. SiteOne Landscape Supply has a one year low of $108.77 and a one year high of $260.00. The company has a current ratio of 2.44, a quick ratio of 0.89 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $125.48 and a 200 day moving average of $147.70. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 22.07 and a beta of 1.35.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SITE shares. Royal Bank of Canada upgraded shares of SiteOne Landscape Supply from an “underperform” rating to a “sector perform” rating and reduced their target price for the company from $128.00 to $118.00 in a research note on Wednesday, June 22nd. TheStreet lowered shares of SiteOne Landscape Supply from a “b-” rating to a “c+” rating in a research report on Wednesday, May 18th. Loop Capital dropped their price target on shares of SiteOne Landscape Supply from $160.00 to $135.00 and set a “hold” rating for the company in a research report on Friday, July 8th. Barclays dropped their price target on shares of SiteOne Landscape Supply from $161.00 to $145.00 and set an “equal weight” rating for the company in a research report on Thursday, July 14th. Finally, Stifel Nicolaus assumed coverage on shares of SiteOne Landscape Supply in a research report on Tuesday, July 12th. They issued a “hold” rating and a $105.00 price target for the company. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and an average target price of $152.63.

Insider Activity

In other SiteOne Landscape Supply news, CEO Doug Black sold 9,530 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $119.13, for a total value of $1,135,308.90. Following the transaction, the chief executive officer now directly owns 512,599 shares of the company’s stock, valued at $61,065,918.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of SiteOne Landscape Supply by 15.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,436 shares of the industrial products company’s stock worth $717,000 after acquiring an additional 593 shares during the period. Cetera Advisor Networks LLC raised its holdings in shares of SiteOne Landscape Supply by 186.3% during the first quarter. Cetera Advisor Networks LLC now owns 2,525 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 1,643 shares during the period. Citigroup Inc. raised its holdings in shares of SiteOne Landscape Supply by 14.8% during the first quarter. Citigroup Inc. now owns 10,831 shares of the industrial products company’s stock worth $1,751,000 after acquiring an additional 1,398 shares during the period. Bank of Montreal Can acquired a new stake in shares of SiteOne Landscape Supply during the first quarter worth $410,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of SiteOne Landscape Supply during the first quarter worth $309,000.

SiteOne Landscape Supply Company Profile

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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 135,000 stock keeping units, including irrigation supplies, which comprise controllers, valves, sprinkler heads, and irrigation pipes; 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; 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.