The Selloff In SiteOne Landscape Supply Is Overextended
SiteOne Landscape Supply Moves Lower On Weak GuidanceSiteOne Landscape Supply (NYSE:SITE) has been in a correction that is now overextending into an attractive buying opportunity. The stock is down more than 7% in the wake of its Q1 earnings report on what we view as cautious guidance. The company beat the top and bottom-line estimates with ease but feels the risks in 2022 are balanced and only maintained its guidance. While we feel there are risks to the economy, we also view home improvement trends as strong and think it will take a few quarters at least before the FOMC is able to put the ki...