SiteOne Landscape Supply Inc. (SITE) Short Interest Up 38.3% in September
SiteOne Landscape Supply Inc. (NYSE:SITE) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,153,374 shares, a growth of 38.3% from the September 15th total of 833,706 shares. Currently, 10.0% of the company’s shares are sold short. Based on an average daily trading volume, of 345,354 shares, the days-to-cover ratio is presently 3.3 days.
A number of hedge funds have recently bought and sold shares of the company. Montag A & Associates Inc. bought a new stake in SiteOne Landscape Supply during the second quarter worth approximately $1,667,000. Jennison Associates LLC bought a new stake in SiteOne Landscape Supply during the second quarter worth approximately $19,528,000. Principal Financial Group Inc. bought a new stake in SiteOne Landscape Supply during the second quarter worth approximately $10,239,000. Bank of New York Mellon Corp bought a new stake in SiteOne Landscape Supply during the second quarter worth approximately $10,678,000. Finally, Emerald Acquisition Ltd. bought a new stake in SiteOne Landscape Supply during the second quarter worth approximately $1,885,000. Hedge funds and other institutional investors own 30.65% of the company’s stock.
SITE has been the topic of a number of recent analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $33.00 target price on shares of SiteOne Landscape Supply in a research report on Saturday, June 25th. Robert W. Baird initiated coverage on shares of SiteOne Landscape Supply in a research report on Sunday, June 26th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 price target (up previously from $32.00) on shares of SiteOne Landscape Supply in a research report on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $34.80.
Shares of SiteOne Landscape Supply (NYSE:SITE) opened at 32.39 on Wednesday. The stock’s 50 day moving average is $37.04 and its 200 day moving average is $34.89. SiteOne Landscape Supply has a 12 month low of $25.49 and a 12 month high of $40.97. The firm’s market cap is $1.28 billion.
SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, August 17th. The company reported ($3.18) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $3.96. The company earned $513.40 million during the quarter, compared to analysts’ expectations of $481.50 million. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. On average, analysts anticipate that SiteOne Landscape Supply will post ($2.94) earnings per share for the current fiscal year.
About SiteOne Landscape Supply
SiteOne Landscape Supply, Inc is a wholesale distributor of landscape supplies in the United States. The Company, through its North American network of approximately 460 branch locations in over 40 states and five provinces, offers a selection of approximately 90,000 stock keeping units (SKUs), including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, hardscapes (including pavers, natural stones and blocks), outdoor lighting and ice melt products.
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