SiteOne Landscape Supply (NYSE:SITE) Reaches New 52-Week Low – Here’s Why

SiteOne Landscape Supply, Inc. (NYSE:SITE) hit a new 52-week low during trading on Thursday . The stock traded as low as $110.76 and last traded at $111.74, with a volume of 142283 shares. The stock had previously closed at $122.65.

Analysts Set New Price Targets

A number of analysts have recently commented on SITE shares. Jefferies Financial Group raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and lifted their price target for the company from $145.00 to $175.00 in a research note on Friday, December 6th. Robert W. Baird cut their price objective on SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on SiteOne Landscape Supply from $129.00 to $136.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. UBS Group lowered their target price on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of SiteOne Landscape Supply in a research note on Tuesday. They issued a “hold” rating and a $135.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $152.60.

SiteOne Landscape Supply Price Performance

The firm has a fifty day simple moving average of $131.80 and a 200 day simple moving average of $139.24. The company has a market capitalization of $5.15 billion, a PE ratio of 42.63 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53.

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

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jefferies Financial Group Inc. purchased a new stake in shares of SiteOne Landscape Supply during the 4th quarter worth $233,000. Castlekeep Investment Advisors LLC acquired a new position in SiteOne Landscape Supply in the 4th quarter valued at $608,000. Public Employees Retirement System of Ohio boosted its stake in shares of SiteOne Landscape Supply by 10.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 52,847 shares of the industrial products company’s stock valued at $6,964,000 after buying an additional 4,878 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of SiteOne Landscape Supply by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 153,907 shares of the industrial products company’s stock valued at $20,280,000 after acquiring an additional 13,374 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in SiteOne Landscape Supply by 55.7% in the 4th quarter. Voloridge Investment Management LLC now owns 135,194 shares of the industrial products company’s stock valued at $17,815,000 after acquiring an additional 48,347 shares during the last quarter.

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.