SiteOne Landscape Supply, Inc. $SITE Stake Lessened by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC lowered its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 2.0% in the second quarter, Holdings Channel.com reports. The firm owned 1,160,196 shares of the industrial products company’s stock after selling 23,378 shares during the period. SiteOne Landscape Supply comprises approximately 2.1% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 18th largest position. Conestoga Capital Advisors LLC’s holdings in SiteOne Landscape Supply were worth $140,314,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SITE. HM Payson & Co. purchased a new stake in shares of SiteOne Landscape Supply in the first quarter valued at $25,000. Brooklyn Investment Group purchased a new stake in shares of SiteOne Landscape Supply during the first quarter worth $32,000. Golden State Wealth Management LLC raised its holdings in shares of SiteOne Landscape Supply by 106.1% during the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 139 shares in the last quarter. Eastern Bank purchased a new stake in shares of SiteOne Landscape Supply during the first quarter worth $38,000. Finally, NewEdge Advisors LLC raised its holdings in shares of SiteOne Landscape Supply by 36.6% during the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 107 shares in the last quarter.

Analyst Upgrades and Downgrades

SITE has been the subject of several recent research reports. William Blair reiterated a “market perform” rating on shares of SiteOne Landscape Supply in a report on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, October 8th. Royal Bank Of Canada increased their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Loop Capital upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $160.00 in a report on Friday, September 19th. Finally, Zacks Research lowered SiteOne Landscape Supply from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, SiteOne Landscape Supply presently has a consensus rating of “Hold” and a consensus target price of $148.50.

Insider Activity

In other news, CEO Doug Black sold 7,384 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the sale, the chief executive officer directly owned 600,446 shares of the company’s stock, valued at approximately $79,312,912.14. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

SiteOne Landscape Supply Trading Down 0.9%

Shares of NYSE:SITE opened at $119.81 on Monday. The company has a market cap of $5.34 billion, a P/E ratio of 43.73, a P/E/G ratio of 2.22 and a beta of 1.59. The stock’s 50-day moving average is $135.36 and its 200-day moving average is $126.47. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week high of $160.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.63 earnings per share. Equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.