SiteOne Landscape Supply, Inc. (NYSE:SITE) Sees Large Drop in Short Interest

SiteOne Landscape Supply, Inc. (NYSE:SITE) was the recipient of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 2,200,036 shares, a decrease of 13.3% from the January 15th total of 2,536,637 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average daily trading volume, of 529,284 shares, the short-interest ratio is currently 4.2 days. Based on an average daily trading volume, of 529,284 shares, the short-interest ratio is currently 4.2 days. Currently, 5.1% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of brokerages have weighed in on SITE. Robert W. Baird set a $190.00 price objective on shares of SiteOne Landscape Supply in a research report on Thursday. Stifel Nicolaus set a $144.00 target price on SiteOne Landscape Supply in a research note on Monday, February 9th. Bank of America started coverage on shares of SiteOne Landscape Supply in a research note on Thursday, December 18th. They issued a “buy” rating and a $147.00 price target on the stock. Zacks Research downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $159.44.

SiteOne Landscape Supply Stock Down 1.4%

Shares of SITE stock traded down $2.15 on Tuesday, hitting $154.90. The stock had a trading volume of 68,446 shares, compared to its average volume of 724,114. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 46.07, a P/E/G ratio of 1.73 and a beta of 1.59. 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 stock’s 50 day moving average is $138.96 and its 200-day moving average is $134.73. SiteOne Landscape Supply has a 52-week low of $101.25 and a 52-week high of $168.56.

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

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITE. True Wealth Design LLC raised its stake in SiteOne Landscape Supply by 541.9% during the 4th quarter. True Wealth Design LLC now owns 199 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 168 shares during the period. Rothschild Investment LLC grew its position in shares of SiteOne Landscape Supply by 1,521.4% in the fourth quarter. Rothschild Investment LLC now owns 227 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 213 shares during the last quarter. Allworth Financial LP increased its position in SiteOne Landscape Supply by 61.2% during the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 90 shares during the period. IFP Advisors Inc raised its holdings in SiteOne Landscape Supply by 106.8% in the 4th quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in SiteOne Landscape Supply in the 4th quarter valued at $42,000.

SiteOne Landscape Supply Company 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.