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

SiteOne Landscape Supply, Inc. (NYSE:SITE) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 2,390,000 shares, a decrease of 13.7% from the May 31st total of 2,770,000 shares. Based on an average trading volume of 360,600 shares, the short-interest ratio is currently 6.6 days.

Wall Street Analysts Forecast Growth

SITE has been the subject of a number of recent analyst reports. Robert W. Baird reduced their price target on shares of SiteOne Landscape Supply from $185.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. Barclays lowered their price objective on shares of SiteOne Landscape Supply from $133.00 to $129.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 5th. Truist Financial cut their target price on shares of SiteOne Landscape Supply from $175.00 to $158.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. Stifel Nicolaus reduced their price target on shares of SiteOne Landscape Supply from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Finally, Loop Capital decreased their price objective on SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating on the stock in a report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $153.63.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, CEO Doug Black sold 10,000 shares of SiteOne Landscape Supply stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the completion of the transaction, the chief executive officer now owns 574,657 shares of the company’s stock, valued at approximately $93,151,899.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On SiteOne Landscape Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new position in shares of SiteOne Landscape Supply during the first quarter valued at approximately $29,000. Principal Securities Inc. purchased a new stake in shares of SiteOne Landscape Supply in the fourth quarter worth $31,000. GAMMA Investing LLC bought a new position in shares of SiteOne Landscape Supply during the fourth quarter valued at $38,000. Benjamin F. Edwards & Company Inc. raised its position in shares of SiteOne Landscape Supply by 588.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 247 shares during the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in SiteOne Landscape Supply in the 1st quarter worth about $58,000.

SiteOne Landscape Supply Trading Down 0.6 %

Shares of SITE opened at $121.41 on Friday. SiteOne Landscape Supply has a 1-year low of $116.81 and a 1-year high of $188.01. The company has a current ratio of 2.36, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $145.87 and its 200-day moving average price is $158.48. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 35.19 and a beta of 1.54.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The firm had revenue of $904.80 million for the quarter, compared to the consensus estimate of $864.01 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that SiteOne Landscape Supply will post 3.81 EPS 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.