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

SiteOne Landscape Supply, Inc. (NYSE:SITE) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,340,000 shares, an increase of 16.4% from the February 13th total of 2,010,000 shares. Based on an average daily trading volume, of 376,300 shares, the short-interest ratio is currently 6.2 days. Currently, 5.3% of the company’s stock are short sold.

Institutional Trading of SiteOne Landscape Supply

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV raised its holdings in SiteOne Landscape Supply by 19.7% in the third quarter. KBC Group NV now owns 1,361 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 224 shares in the last quarter. OneDigital Investment Advisors LLC bought a new stake in SiteOne Landscape Supply in the 3rd quarter worth about $278,000. CIBC Asset Management Inc bought a new stake in SiteOne Landscape Supply in the 3rd quarter worth about $200,000. Natixis Advisors LLC increased its holdings in SiteOne Landscape Supply by 5.3% in the 3rd quarter. Natixis Advisors LLC now owns 177,718 shares of the industrial products company’s stock worth $26,820,000 after buying an additional 8,886 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its position in SiteOne Landscape Supply by 12.9% in the third quarter. Pathstone Holdings LLC now owns 16,761 shares of the industrial products company’s stock worth $2,529,000 after purchasing an additional 1,914 shares during the last quarter.

SiteOne Landscape Supply Trading Up 1.5 %

Shares of NYSE:SITE traded up $1.79 during trading on Thursday, reaching $124.44. 142,698 shares of the company traded hands, compared to its average volume of 371,528. The business’s fifty day moving average is $134.64 and its 200-day moving average is $140.08. SiteOne Landscape Supply has a 52-week low of $114.60 and a 52-week high of $188.01. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 46.26 and a beta of 1.69. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.22). SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. As a group, analysts forecast that SiteOne Landscape Supply will post 3.61 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SITE. Robert W. Baird lowered their target price on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Sunday. Stifel Nicolaus reiterated a “hold” rating and issued a $140.00 price objective (down from $145.00) on shares of SiteOne Landscape Supply in a report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and upped their price objective for the company from $145.00 to $175.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $154.56.

About SiteOne Landscape Supply

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.