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SITE - SiteOne Landscape Supply: Water The Flowers Not The Weeds
SiteOne Landscape Supply Inc.
2024-02-19 04:45:48 ET
Summary
SiteOne Landscape Supply is a leading supplier of tools and equipment for the green industry in the US and Canada.
The company has shown strong financial performance, with high total returns and consistent revenue and EBITDA growth.
Recent results were mixed, with organic sales down and challenges from macro factors, but there seems to be strong indications that the company's growth rate is slowing.
I see about 28% downside from the current price if the valuation was to normalize at a more reasonable level. That said, if I were an investor in the stock, I think selling covered calls against the position makes a lot of sense given the high premiums on the stock.