On September 20, 2023, Doug Black, the CEO of SiteOne Landscape Supply Inc (SITE, Financial), sold 8,000 shares of the company. This move is part of a trend for the insider, who over the past year has sold a total of 59,087 shares and purchased none.
Doug Black is the CEO of SiteOne Landscape Supply Inc, a company that distributes landscape supplies primarily to landscape service professionals in the United States and Canada. The company provides a diverse range of products including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, and more. Under Black's leadership, the company has grown to a market cap of $6.995 billion.
The insider transaction history for SiteOne Landscape Supply Inc shows a trend of selling rather than buying. Over the past year, there have been 10 insider sells and no insider buys. This could be a signal to investors about the insider's confidence in the company's future performance.
On the day of the insider's recent sell, shares of SiteOne Landscape Supply Inc were trading for $159.16 apiece. This gives the stock a price-earnings ratio of 37.05, which is higher than the industry median of 12.91 but lower than the company’s historical median price-earnings ratio.
Despite the insider's sell, the stock appears to be modestly undervalued based on its GF Value. With a price of $159.16 and a GuruFocus Value of $198.64, SiteOne Landscape Supply Inc has a price-to-GF-Value ratio of 0.8.
The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company’s past returns and growth, and future estimates of business performance from Morningstar analysts.
In conclusion, the insider's recent sell of SiteOne Landscape Supply Inc shares, along with the trend of insider sells over the past year, could be a signal to investors. However, the stock's current valuation suggests it may still be a good buy. As always, investors should conduct their own research and consider their investment goals before making a decision.
