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

SiteOne Landscape Supply, Inc. (NYSE:SITE) saw a large decline in short interest in January. As of January 30th, there was short interest totaling 2,200,036 shares, a decline of 13.3% from the January 15th total of 2,536,637 shares. Based on an average daily volume of 529,284 shares, the short-interest ratio is presently 4.2 days. Currently, 5.1% of the shares of the stock are sold short. Currently, 5.1% of the shares of the stock are sold short. Based on an average daily volume of 529,284 shares, the short-interest ratio is presently 4.2 days.

SiteOne Landscape Supply Stock Performance

SITE traded down $2.15 during trading on Tuesday, hitting $154.90. The stock had a trading volume of 68,446 shares, compared to its average volume of 724,114. SiteOne Landscape Supply has a one year low of $101.25 and a one year high of $168.56. 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 company has a 50 day moving average price of $138.96 and a 200-day moving average price of $134.73. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of 46.07, a P/E/G ratio of 1.73 and a beta of 1.59.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.09. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. SiteOne Landscape Supply had a return on equity of 9.33% and a net margin of 3.23%.The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.48) earnings per share. As a group, research analysts predict that SiteOne Landscape Supply will post 3.61 EPS for the current year.

Institutional Trading of SiteOne Landscape Supply

Several institutional investors have recently added to or reduced their stakes in SITE. Man Group plc lifted its stake in shares of SiteOne Landscape Supply by 0.4% in the 2nd quarter. Man Group plc now owns 22,338 shares of the industrial products company’s stock valued at $2,702,000 after purchasing an additional 86 shares during the period. Keynote Financial Services LLC lifted its holdings in SiteOne Landscape Supply by 5.4% during the second quarter. Keynote Financial Services LLC now owns 1,740 shares of the industrial products company’s stock valued at $210,000 after purchasing an additional 89 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in SiteOne Landscape Supply by 0.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company’s stock worth $2,109,000 after purchasing an additional 89 shares in the last quarter. Allworth Financial LP increased its holdings in shares of SiteOne Landscape Supply by 61.2% in the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 90 shares during the period. Finally, HM Payson & Co. grew its stake in SiteOne Landscape Supply by 32.2% in the 3rd quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock worth $51,000 after buying an additional 97 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SITE shares. Royal Bank Of Canada lifted their target price on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the company an “outperform” rating in a research note on Thursday. Stifel Nicolaus set a $144.00 price objective on shares of SiteOne Landscape Supply in a research note on Monday, February 9th. Zacks Research downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Bank of America assumed coverage on SiteOne Landscape Supply in a report on Thursday, December 18th. They set a “buy” rating and a $147.00 target price on the stock. Finally, Truist Financial upped their price target on shares of SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SiteOne Landscape Supply currently has an average rating of “Hold” and an average price target of $159.44.

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.