SiteOne Landscape Supply, Inc. $SITE Stake Lowered by Summit Creek Advisors LLC

Summit Creek Advisors LLC trimmed its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,130 shares of the industrial products company’s stock after selling 4,759 shares during the quarter. Summit Creek Advisors LLC’s holdings in SiteOne Landscape Supply were worth $7,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bayforest Capital Ltd bought a new position in SiteOne Landscape Supply during the 3rd quarter worth $224,000. State of Alaska Department of Revenue acquired a new position in shares of SiteOne Landscape Supply during the third quarter valued at $346,000. Baker Ellis Asset Management LLC bought a new position in shares of SiteOne Landscape Supply during the third quarter worth about $325,000. Birch Hill Investment Advisors LLC grew its position in shares of SiteOne Landscape Supply by 3.6% during the third quarter. Birch Hill Investment Advisors LLC now owns 6,194 shares of the industrial products company’s stock worth $798,000 after acquiring an additional 215 shares during the last quarter. Finally, Lecap Asset Management Ltd. increased its holdings in shares of SiteOne Landscape Supply by 275.5% in the 3rd quarter. Lecap Asset Management Ltd. now owns 9,080 shares of the industrial products company’s stock worth $1,170,000 after acquiring an additional 6,662 shares during the period.

Analysts Set New Price Targets

A number of research firms have issued reports on SITE. Stifel Nicolaus reduced their target price on shares of SiteOne Landscape Supply from $140.00 to $134.00 and set a “hold” rating for the company in a research note on Tuesday, December 16th. Bank of America started coverage on SiteOne Landscape Supply in a report on Thursday, December 18th. They set a “buy” rating and a $147.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research report on Wednesday, October 8th. The Goldman Sachs Group decreased their price objective on SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Finally, William Blair reaffirmed a “market perform” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, October 15th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, SiteOne Landscape Supply presently has an average rating of “Hold” and an average price target of $150.10.

SiteOne Landscape Supply Trading Up 5.2%

SiteOne Landscape Supply stock opened at $140.12 on Monday. SiteOne Landscape Supply, Inc. has a 12-month low of $101.25 and a 12-month high of $154.00. 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 stock has a market capitalization of $6.24 billion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 1.48 and a beta of 1.58. The firm has a 50 day simple moving average of $128.59 and a 200-day simple moving average of $130.97.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.22 by $0.09. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. SiteOne Landscape Supply had a return on equity of 8.62% and a net margin of 2.98%.The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 earnings per share. As a group, equities research analysts expect that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

About SiteOne Landscape Supply

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.