Zweig DiMenna Associates LLC Increases Position in SiteOne Landscape Supply, Inc. $SITE

Zweig DiMenna Associates LLC lifted its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 370.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,600 shares of the industrial products company’s stock after buying an additional 35,900 shares during the quarter. Zweig DiMenna Associates LLC owned approximately 0.10% of SiteOne Landscape Supply worth $5,873,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Summitry LLC grew its position in shares of SiteOne Landscape Supply by 16.4% during the third quarter. Summitry LLC now owns 2,568 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 362 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in SiteOne Landscape Supply by 3.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 16,839 shares of the industrial products company’s stock valued at $2,169,000 after buying an additional 570 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in SiteOne Landscape Supply by 14.0% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 27,089 shares of the industrial products company’s stock valued at $3,489,000 after buying an additional 3,333 shares in the last quarter. Cibc World Market Inc. raised its position in shares of SiteOne Landscape Supply by 10.0% during the third quarter. Cibc World Market Inc. now owns 3,352 shares of the industrial products company’s stock valued at $432,000 after buying an additional 305 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of SiteOne Landscape Supply by 4.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 42,336 shares of the industrial products company’s stock worth $5,453,000 after buying an additional 1,816 shares in the last quarter.

SiteOne Landscape Supply Price Performance

Shares of SITE stock opened at $157.00 on Tuesday. The stock has a 50 day moving average price of $138.96 and a 200 day moving average price of $134.73. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week high of $168.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.14 and a current ratio of 2.49. The firm has a market capitalization of $6.99 billion, a P/E ratio of 46.73, a P/E/G ratio of 1.73 and a beta of 1.59.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.09. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. SiteOne Landscape Supply had a return on equity of 9.33% and a net margin of 3.23%.The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned ($0.48) earnings per share. As a group, sell-side analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays raised their target price on shares of SiteOne Landscape Supply from $134.00 to $150.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird set a $190.00 price target on SiteOne Landscape Supply in a report on Thursday. Zacks Research cut SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Bank of America assumed coverage on shares of SiteOne Landscape Supply in a report on Thursday, December 18th. They issued a “buy” rating and a $147.00 target price for the company. Finally, Stifel Nicolaus set a $144.00 price target on shares of SiteOne Landscape Supply in a research note on Monday, February 9th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $159.44.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.