SiteOne Landscape Supply, Inc. (NYSE:SITE) Short Interest Update

SiteOne Landscape Supply, Inc. (NYSE:SITE) was the recipient of a large decrease in short interest in 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. Based on an average daily trading volume, of 529,284 shares, the days-to-cover ratio is presently 4.2 days. Approximately 5.1% of the company’s stock are sold short. Approximately 5.1% of the company’s stock are sold short. Based on an average daily trading volume, of 529,284 shares, the days-to-cover ratio is presently 4.2 days.

Insider Transactions at SiteOne Landscape Supply

In other news, EVP Eric J. Elema sold 1,765 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $158.01, for a total transaction of $278,887.65. Following the transaction, the executive vice president directly owned 2,911 shares in the company, valued at $459,967.11. The trade was a 37.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SITE. Interval Partners LP raised its position in shares of SiteOne Landscape Supply by 340.1% during the fourth quarter. Interval Partners LP now owns 434,651 shares of the industrial products company’s stock valued at $54,140,000 after buying an additional 335,893 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of SiteOne Landscape Supply by 217.8% in the fourth quarter. Gotham Asset Management LLC now owns 26,286 shares of the industrial products company’s stock valued at $3,274,000 after purchasing an additional 18,015 shares in the last quarter. Evolve Private Wealth LLC bought a new stake in SiteOne Landscape Supply in the 4th quarter valued at $414,000. Bamco Inc. NY raised its stake in shares of SiteOne Landscape Supply by 3.1% in the 4th quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock valued at $252,653,000 after buying an additional 61,490 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of SiteOne Landscape Supply during the 4th quarter valued at about $769,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on SITE shares. Stifel Nicolaus set a $144.00 target price on SiteOne Landscape Supply in a research note on Monday, February 9th. Royal Bank Of Canada boosted their price target on SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, January 21st. Bank of America started coverage on shares of SiteOne Landscape Supply in a research report on Thursday, December 18th. They issued a “buy” rating and a $147.00 target price for the company. Finally, Robert W. Baird set a $190.00 price objective on shares of SiteOne Landscape Supply in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus target price of $159.44.

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE traded up $1.69 during trading hours on Wednesday, hitting $155.22. 113,330 shares of the stock were exchanged, compared to its average volume of 723,010. SiteOne Landscape Supply has a one year low of $101.25 and a one year high of $168.56. The company’s 50 day moving average is $139.52 and its 200 day moving average is $134.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.49 and a quick ratio of 1.14. The firm has a market capitalization of $6.91 billion, a P/E ratio of 46.14, 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 analysts’ consensus estimates of ($0.29) by $0.09. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. SiteOne Landscape Supply had a net margin of 3.23% and a return on equity of 9.33%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.48) EPS. On average, research analysts expect that SiteOne Landscape Supply will post 3.61 EPS for the current year.

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.