Insider Sell: CEO Doug Black Sells 7,960 Shares of SiteOne Landscape Supply Inc
On October 18, 2023, Doug Black, the CEO of SiteOne Landscape Supply Inc (NYSE:SITE), sold 7,960 shares of the company. This move is part of a trend for the insider, who over the past year has sold a total of 57,456 shares and made no purchases.
Doug Black is a seasoned executive with a wealth of experience in the landscape supply industry. As the CEO of SiteOne Landscape Supply Inc, he has been instrumental in guiding the company's growth and expansion. SiteOne Landscape Supply Inc is the largest and only national wholesale distributor of landscape supplies in the United States and has a growing presence in Canada. Its customers are primarily residential and commercial landscape professionals specializing in the design, installation, and maintenance of lawns, gardens, golf courses, and other outdoor spaces.
The insider's recent sell-off comes at a time when the stock is trading at $145.12, giving the company a market cap of $6.185 billion. The price-earnings ratio stands at 33.61, higher than the industry median of 11.87 but lower than the companys historical median price-earnings ratio.
The insider transaction history for SiteOne Landscape Supply Inc shows a clear trend of insider selling. Over the past year, there have been 10 insider sells and no insider buys. This trend is illustrated in the following image:
Despite the insider's selling activity, the stock appears to be significantly undervalued based on its GuruFocus Value of $199.15. The price-to-GF-Value ratio stands at 0.73, suggesting that the stock is undervalued. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance from Morningstar analysts.
The GF Value for SiteOne Landscape Supply Inc is shown in the following image:
In conclusion, while the insider's selling activity may raise some eyebrows, the stock's current valuation suggests that it may still be a good buy for investors. However, as always, investors should conduct their own due diligence before making any investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
