SiteOne Landscape Supply (NYSE:SITE) Releases Quarterly Earnings Results, Misses Expectations By $0.22 EPS

SiteOne Landscape Supply (NYSE:SITE) announced its earnings results on Wednesday. The industrial products company reported ($0.48) EPS for the quarter, missing the consensus estimate 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 Price Performance

SITE stock traded up $3.44 during trading on Wednesday, hitting $136.60. The company had a trading volume of 289,825 shares, compared to its average volume of 331,266. The company has a fifty day moving average price of $138.47 and a two-hundred day moving average price of $141.48. SiteOne Landscape Supply has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. The company has a market cap of $6.16 billion, a P/E ratio of 44.72 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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SITE shares. Jefferies Financial Group raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their price objective for the company from $145.00 to $175.00 in a research report on Friday, December 6th. Robert W. Baird upped their price objective on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays lifted their target price on SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus restated a “hold” rating and set a $140.00 price objective (down from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $155.33.

Insiders Place Their Bets

In other news, EVP Joseph Ketter sold 6,500 shares of the company’s 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 sale, the executive vice president now owns 12,942 shares of the company’s stock, valued at approximately $1,840,352.40. This represents a 33.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.70% of the company’s stock.

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.