SiteOne Landscape Supply (NYSE:SITE) Issues Earnings Results

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) issued its earnings results on Wednesday. The industrial products company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.22), Zacks reports. SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock traded up $5.05 during trading hours on Friday, hitting $146.21. The company's stock had a trading volume of 498,988 shares, compared to its average volume of 303,276. The company has a 50 day moving average of $138.07 and a 200 day moving average of $141.47. The stock has a market cap of $6.60 billion, a PE ratio of 47.32 and a beta of 1.57. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31. SiteOne Landscape Supply has a 12-month low of $114.60 and a 12-month high of $188.01.

Insider Activity

In other news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the completion of the sale, the executive vice president now directly owns 12,942 shares in the company, valued at $1,840,352.40. This represents a 33.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SITE. Jefferies Financial Group upgraded shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and upped their target price for the stock from $145.00 to $175.00 in a research report on Friday, December 6th. Stifel Nicolaus reissued a "hold" rating and issued a $140.00 target price (down previously from $145.00) on shares of SiteOne Landscape Supply in a research note on Monday, February 10th. Barclays increased their price objective on SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an "underweight" rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a "sector perform" rating in a research note on Thursday. Finally, Robert W. Baird dropped their target price on SiteOne Landscape Supply from $183.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $154.56.

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.