Summit Creek Advisors LLC Boosts Stake in SiteOne Landscape Supply, Inc. $SITE

Summit Creek Advisors LLC boosted its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,442 shares of the industrial products company’s stock after acquiring an additional 13,312 shares during the quarter. Summit Creek Advisors LLC’s holdings in SiteOne Landscape Supply were worth $9,148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc increased its position in SiteOne Landscape Supply by 106.8% during the fourth quarter. IFP Advisors Inc now owns 306 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 158 shares during the last quarter. Handelsbanken Fonder AB increased its position in SiteOne Landscape Supply by 52.8% during the fourth quarter. Handelsbanken Fonder AB now owns 370,537 shares of the industrial products company’s stock valued at $46,154,000 after acquiring an additional 128,100 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in SiteOne Landscape Supply by 2,843.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 17,629 shares of the industrial products company’s stock valued at $2,062,000 after acquiring an additional 17,030 shares during the last quarter. Allworth Financial LP increased its position in SiteOne Landscape Supply by 108.1% during the fourth quarter. Allworth Financial LP now owns 643 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 334 shares during the last quarter. Finally, TradeLink Capital LLC purchased a new stake in SiteOne Landscape Supply during the fourth quarter valued at $295,000.

Analysts Set New Price Targets

A number of analysts recently commented on SITE shares. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Thursday, April 30th. Zacks Research upgraded SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Truist Financial upped their price objective on SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Robert W. Baird set a $160.00 price target on SiteOne Landscape Supply in a report on Thursday, April 30th. Finally, Weiss Ratings lowered SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $160.10.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $113.94 on Thursday. The stock has a 50-day simple moving average of $130.80 and a two-hundred day simple moving average of $134.65. SiteOne Landscape Supply, Inc. has a 52-week low of $109.10 and a 52-week high of $168.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 2.33. The firm has a market capitalization of $5.05 billion, a PE ratio of 33.81, a P/E/G ratio of 1.44 and a beta of 1.42.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.27). SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The company had revenue of $940.10 million for the quarter, compared to the consensus estimate of $982.27 million. During the same period in the prior year, the firm posted ($0.61) EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that SiteOne Landscape Supply, Inc. will post 4.18 EPS for the current year.

SiteOne Landscape Supply 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.