SiteOne Landscape Supply (NYSE:SITE) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

SiteOne Landscape Supply, Inc. (NYSE:SITE – Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $116.09 and traded as high as $119.56. SiteOne Landscape Supply shares last traded at $118.3720, with a volume of 1,518,138 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Truist Financial cut their target price on shares of SiteOne Landscape Supply from $200.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. KeyCorp lowered their target price on SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Robert W. Baird dropped their price target on shares of SiteOne Landscape Supply from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada cut their price target on SiteOne Landscape Supply from $135.00 to $124.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.00.

Check Out Our Latest Analysis on SiteOne Landscape Supply

SiteOne Landscape Supply Price Performance

The company has a quick ratio of 1.03, a current ratio of 2.41 and a debt-to-equity ratio of 0.34. The firm has a market cap of $4.86 billion, a PE ratio of 30.16, a P/E/G ratio of 1.89 and a beta of 1.29. The firm’s fifty day simple moving average is $96.48 and its two-hundred day simple moving average is $115.77.

SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.46. SiteOne Landscape Supply had a net margin of 3.49% and a return on equity of 10.06%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts expect that SiteOne Landscape Supply, Inc. will post 3.74 EPS for the current year.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black purchased 9,100 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were acquired at an average cost of $110.30 per share, with a total value of $1,003,730.00. Following the completion of the acquisition, the chief executive officer directly owned 18,141 shares in the company, valued at $2,000,952.30. The trade was a 100.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of hedge funds have recently made changes to their positions in SITE. Whittier Trust Co. increased its position in shares of SiteOne Landscape Supply by 72.7% during the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. Parallel Advisors LLC raised its holdings in SiteOne Landscape Supply by 15.6% during the 1st quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company’s stock valued at $87,000 after buying an additional 88 shares during the period. Basecamp Wealth Advisors LLC lifted its position in SiteOne Landscape Supply by 219.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after buying an additional 127 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in SiteOne Landscape Supply by 5.7% in the third quarter. Maryland State Retirement & Pension System now owns 2,672 shares of the industrial products company’s stock worth $241,000 after buying an additional 143 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in SiteOne Landscape Supply by 12.2% during the third quarter. Allworth Financial LP now owns 1,724 shares of the industrial products company’s stock worth $156,000 after buying an additional 187 shares during the period.

About SiteOne Landscape Supply

(Get Free Report)

SiteOne Landscape Supply, Inc (NYSE: SITE) is a wholesale distributor of landscape and outdoor living products in the United States and Canada. The company serves landscape professionals, irrigation contractors, golf course and sports-turf managers, nursery and greenhouse operators, and other customers in the green industry.

Its product offerings include irrigation and water-management systems, landscape lighting, nursery and greenhouse supplies, fertilizers and other agronomic products, turf-care equipment, hardscape materials, outdoor living products, and pest-control supplies.

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