Is SiteOne Stock a Long-Term Hold or Just a Summer Buy and Sell? The American author Jenny Han famously said: “Everything good, everything magical happens between June and August.”
And while some pretty amazing events have happened in the other nine months of the year, there’s no denying that summer is pretty awesome.
SiteOne stock is heating up
The investment calendar is traditionally very cyclical. Certain companies perform better during the colder holiday season, while others shine during the warmer months. SiteOne stock has historically skyrocketed at the start of each summer.
In fact, looking back at that SiteOne Landscape Supply Inc (NYSE:SITE) stock history lets you see how well it has performed over the long term. Stock price spikes typically begin towards the end of June and continue into the fall months.
About SiteOne Landscape Supply
SiteOne Landscape Supply, also known as SiteOne, is a wholesaler of landscape supplies in North America. The company sells the majority of its products to professional landscapers, landscapers and installers.
SiteOne offers many types of landscaping products such as: B. Irrigation accessories; outdoor lighting products; herbicides and pesticides; fertilizer and seeds. The company also sells landscape tools and equipment; live nursery supplies including trees, plants, flowers, shrubs and sods; ice melting products; and outdoor living and hardscape products. SiteOne’s current catalog includes around 100,000 products.
Latest SiteOne stock news
SiteOne announced this week that it has completed the acquisition of River Valley Horticultural Products, Inc. (“River Valley”). River Valley is a wholesaler of nursery, hardscape and landscaping supplies. The company is based in Little Rock, Arkansas.
“For more than 25 years, River Valley in Little Rock has built a reputation for providing quality nursery and bulk products with exceptional customer service,” said Doug Black, chairman and CEO of SiteOne Landscape Supply. “Together we will be able to offer landscape professionals throughout Central Arkansas a full line of landscaping products and supplies.”
“We’re excited to join the SiteOne family so we can bring even more value to our customers and more opportunities to our employees,” said Scott Smith, founder and owner of River Valley.
SiteOne has now made eight acquisitions in 2022 as the company continues to expand its presence in the landscaping industry.
The best summer stocks
SiteOne has a great track record over the summer. But what other stocks perform well during the summer months?
Aside from landscaping, there are many businesses to keep an eye on during the summer months. This includes travel industries such as airlines, rental cars and hotels. Amusement parks like Disney, SeaWorld and Six Flags. AirBnB, hotels, and cruise ship stocks are also worth considering.
Also, consider investing in outdoor stocks. Bathing and swimming supplies, hiking, biking, camping, BBQ and water sports stocks are summer favorites.
Final Thoughts on SiteOne Stock
SiteOne stock currently has a consensus analyst price target of $154.25. SiteOne Landscape Supply has a projected increase of 14.4% from its current price of $134.85. And while overall market sentiment still remains bearish, there’s growing investor interest in SiteOne.
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Ben Broadwater is a Director of Investment U. He has over 15 years of content creation experience. He has worked and written for numerous financial publishing companies including Charles Street Research, The Oxford Club and now Investment U. When Ben is not busy running Investment U he can usually be found with a pair of drumsticks or a guitar in hand .