SiteOne Landscape Supply (NYSE:SITE) Posts Quarterly Earnings Results

SiteOne Landscape Supply (NYSE:SITE) issued its earnings results on Wednesday. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.22), Briefing.com reports. The firm had revenue of $904.80 million during the quarter, compared to the consensus estimate of $864.01 million. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share.

SiteOne Landscape Supply Price Performance

Shares of SITE traded up $6.85 during midday trading on Thursday, reaching $150.36. The stock had a trading volume of 706,259 shares, compared to its average volume of 317,650. The company’s 50-day moving average is $169.98 and its 200 day moving average is $156.77. SiteOne Landscape Supply has a 12-month low of $116.81 and a 12-month high of $188.01. The company has a current ratio of 2.43, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 39.83 and a beta of 1.53.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SITE. Robert W. Baird boosted their target price on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Loop Capital lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Royal Bank of Canada boosted their price objective on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Stifel Nicolaus upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and decreased their price objective for the company from $167.00 to $165.00 in a research note on Thursday. Finally, Truist Financial decreased their price objective on SiteOne Landscape Supply from $204.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $167.50.

Insider Transactions at SiteOne Landscape Supply

In other news, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,467 shares in the company, valued at approximately $2,784,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total value of $1,621,000.00. Following the completion of the sale, the chief executive officer now owns 574,657 shares in the company, valued at approximately $93,151,899.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John T. Guthrie sold 3,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the sale, the chief financial officer now owns 15,467 shares of the company’s stock, valued at approximately $2,784,060. The disclosure for this sale can be found here. In the last three months, insiders sold 23,000 shares of company stock worth $3,924,500. 2.70% of the stock is currently owned by corporate insiders.

SiteOne Landscape Supply Company Profile

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.