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SiteOne Landscape Supply Inc (SITE) receives a Buy rating from Stifel

SiteOne Landscape Supply Inc’s recently made public that its CEO BLACK DOUG unloaded Company’s shares for reported $1.6 million on May 15 ’24. In the deal valued at $160.01 per share,10,000 shares were sold. As a result of this transaction, BLACK DOUG now holds 578,361 shares worth roughly $67.35 million.

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Then, BLACK DOUG sold 10,000 shares, generating $1,621,000 in total proceeds. Upon selling the shares at $162.10, the CEO now owns 574,657 shares.

Before that, BLACK DOUG sold 10,000 shares. SiteOne Landscape Supply Inc shares valued at $1,763,500 were divested by the CEO at a price of $176.35 per share. As a result of the transaction, BLACK DOUG now holds 574,657 shares, worth roughly $66.92 million.

Stifel upgraded its SiteOne Landscape Supply Inc [SITE] rating to a Buy from a a Hold in a research note published on May 02, 2024; the price target was decreased to $165 from $167. A number of analysts have revised their coverage, including Loop Capital’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “a Hold”. Stifel also remained covering SITE and has decreased its forecast on December 19, 2023 with a “Hold” recommendation from previously “Buy” rating. Deutsche Bank revised its rating on December 08, 2023. It rated SITE as “a Sell” which previously was an “a Hold”.

Price Performance Review of SITE

On Friday, SiteOne Landscape Supply Inc [NYSE:SITE] saw its stock fall -1.32% to $116.45. Over the last five days, the stock has lost -4.71%. SiteOne Landscape Supply Inc shares have fallen nearly -28.34% since the year began. Nevertheless, the stocks have fallen -29.84% over the past one year. While a 52-week high of $188.01 was reached on 03/21/24, a 52-week low of $115.55 was recorded on 07/02/24. SMA at 50 days reached $143.14, while 200 days put it at $153.38. A total of 0.58 million shares were traded, compared to the trading of 0.21 million shares in the previous session.

Levels Of Support And Resistance For SITE Stock

The 24-hour chart illustrates a support level at 115.61, which if violated will result in even more drops to 114.77. On the upside, there is a resistance level at 117.83. A further resistance level may holdings at 119.21. The Relative Strength Index (RSI) on the 14-day chart is 23.99, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -7.78, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.84%. Stochastics%K at 10.43% indicates the stock is a buying.

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