SiteOne Landscape Supply (NYSE:SITE) Issues 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. SiteOne Landscape Supply had a return on equity of 10.27% and a net margin of 3.50%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis.

SiteOne Landscape Supply Price Performance

Shares of SITE traded down $6.97 during trading hours on Thursday, hitting $141.23. 337,544 shares of the company were exchanged, compared to its average volume of 364,162. The company has a quick ratio of 1.10, a current ratio of 2.47 and a debt-to-equity ratio of 0.36. SiteOne Landscape Supply has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 41.28 and a beta of 1.53. The firm’s fifty day moving average is $143.39 and its 200 day moving average is $142.08.

Insider Buying and Selling

In other news, Director Fred M. Diaz sold 878 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 11,267 shares in the company, valued at approximately $1,453,893.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada dropped their price objective on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Robert W. Baird raised their price target on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays upped their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday. Stifel Nicolaus cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating and set a $150.00 target price for the company. in a research note on Thursday, August 1st. Finally, Truist Financial lifted their target price on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $147.80.

SiteOne Landscape Supply Company Profile

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.