SiteOne Landscape Supply (NYSE:SITE) Sets New 12-Month Low Following Analyst Downgrade

Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) hit 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 trading hands. The stock had previously closed at $109.56.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus reissued a "hold" rating and issued a $140.00 target price (down from $145.00) on shares of SiteOne Landscape Supply in a report on Monday, February 10th. StockNews.com upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Sunday, March 16th. Deutsche Bank Aktiengesellschaft initiated coverage on SiteOne Landscape Supply in a research note on Tuesday, April 1st. They issued a "hold" rating and a $135.00 price target on the stock. Loop Capital dropped their price objective on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating for the company in a research report on Friday, April 4th. Finally, Robert W. Baird decreased 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, February 13th. One investment 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, the stock presently has an average rating of "Hold" and a consensus target price of $149.70.

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Institutional Trading of SiteOne Landscape Supply

Several hedge funds have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. raised its holdings in SiteOne Landscape Supply by 90.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company's stock worth $32,000 after buying an additional 100 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of SiteOne Landscape Supply by 657.9% in the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company's stock worth $38,000 after acquiring an additional 250 shares during the last quarter. Tortoise Investment Management LLC lifted its position in SiteOne Landscape Supply by 78.9% in the 4th quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 131 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in SiteOne Landscape Supply in the 4th quarter valued at about $40,000. Finally, Brown Brothers Harriman & Co. boosted its stake in SiteOne Landscape Supply by 395.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 273 shares during the last quarter.

SiteOne Landscape Supply Price Performance

The stock has a market capitalization of $5.10 billion, a P/E ratio of 42.19 and a beta of 1.62. The business has a fifty day simple moving average of $125.97 and a 200 day simple moving average of $136.87. 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 (NYSE:SITE - Get Free Report) last announced its quarterly 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%. On average, analysts expect 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.