SiteOne Landscape Supply (NYSE:SITE) Reaches New 1-Year Low – Here’s Why

SiteOne Landscape Supply, Inc. (NYSE:SITE)’s share price reached 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SITE shares. Robert W. Baird reduced their target price on SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft initiated coverage on SiteOne Landscape Supply in a research note on Tuesday. They issued a “hold” rating and a $135.00 price objective for the company. UBS Group lowered their target price on 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. Loop Capital reduced their price target on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a “hold” rating for the company in a research report on Friday. Finally, StockNews.com raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Sunday, March 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, SiteOne Landscape Supply presently has an average rating of “Hold” and a consensus target price of $151.10.

SiteOne Landscape Supply Price Performance

The business’s 50 day moving average is $130.44 and its two-hundred day moving average is $138.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The firm has a market capitalization of $5.00 billion, a PE ratio of 41.36 and a beta of 1.62.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of large investors have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its stake in SiteOne Landscape Supply by 90.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Trust Co. of Vermont raised its position in shares of SiteOne Landscape Supply by 657.9% in the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after buying an additional 250 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in SiteOne Landscape Supply by 78.9% during the fourth quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company’s stock valued at $39,000 after buying an additional 131 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in SiteOne Landscape Supply during the fourth quarter worth about $40,000. Finally, Brown Brothers Harriman & Co. increased its stake in SiteOne Landscape Supply by 395.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 273 shares during the last quarter.

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.