Jupiter Topco LLC Takes Position in SiteOne Landscape Supply, Inc. $SITE

Jupiter Topco LLC purchased a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the second quarter, HoldingsChannel reports. The firm purchased 520,229 shares of the industrial products company’s stock, valued at approximately $59,521,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wasatch Advisors LP raised its holdings in SiteOne Landscape Supply by 11.4% in the 3rd quarter. Wasatch Advisors LP now owns 2,177,446 shares of the industrial products company’s stock valued at $280,455,000 after buying an additional 222,959 shares during the period. Bamco Inc. NY boosted its stake in SiteOne Landscape Supply by 3.1% during the fourth quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock worth $252,653,000 after buying an additional 61,490 shares during the period. BlackRock Inc. purchased a new position in SiteOne Landscape Supply during the second quarter worth about $221,355,000. Capital World Investors boosted its stake in SiteOne Landscape Supply by 37.9% during the fourth quarter. Capital World Investors now owns 1,402,337 shares of the industrial products company’s stock worth $174,675,000 after buying an additional 385,666 shares during the period. Finally, Conestoga Capital Advisors LLC increased its position in shares of SiteOne Landscape Supply by 2.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,106,701 shares of the industrial products company’s stock valued at $147,313,000 after acquiring an additional 31,684 shares during the last quarter.

SiteOne Landscape Supply Stock Performance

NYSE SITE opened at $95.40 on Friday. The company has a market cap of $4.16 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.39 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. The stock has a 50-day moving average of $103.00 and a two-hundred day moving average of $120.03. SiteOne Landscape Supply, Inc. has a 1-year low of $90.07 and a 1-year high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.22). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. SiteOne Landscape Supply had a return on equity of 9.76% and a net margin of 3.41%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.86 EPS. As a group, analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current year.

Insider Buying and Selling at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black bought 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were purchased at an average cost of $102.03 per share, with a total value of $816,240.00. Following the purchase, the chief executive officer directly owned 8,000 shares in the company, valued at approximately $816,240. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. KeyCorp reduced their price target on shares of SiteOne Landscape Supply from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Royal Bank Of Canada lowered their price objective on shares of SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Weiss Ratings downgraded shares of SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Stifel Nicolaus reissued a “hold” rating and issued a $100.00 target price (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $135.27.

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.