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

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

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE opened at $152.94 on Thursday. SiteOne Landscape Supply has a 12 month low of $101.25 and a 12 month high of $168.56. The company has a market capitalization of $6.81 billion, a P/E ratio of 45.52, a P/E/G ratio of 1.96 and a beta of 1.59. The stock has a 50 day moving average of $139.98 and a 200-day moving average of $134.98. The company has a current ratio of 2.49, a quick ratio of 1.14 and a debt-to-equity ratio of 0.29.

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Robert W. Baird set a $190.00 price target on shares of SiteOne Landscape Supply in a research note on Thursday, February 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, January 21st. Royal Bank Of Canada increased their target price on shares of SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Truist Financial lifted their price objective on SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Barclays upped their target price on shares of SiteOne Landscape Supply from $134.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $159.44.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $158.01, for a total transaction of $278,887.65. Following the completion of the transaction, the executive vice president directly owned 2,911 shares in the company, valued at $459,967.11. This represents a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiteOne Landscape Supply

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in shares of SiteOne Landscape Supply by 45.9% during the 1st quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company’s stock worth $9,126,000 after purchasing an additional 23,657 shares in the last quarter. NewEdge Advisors LLC boosted its position in SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock valued at $48,000 after buying an additional 107 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of SiteOne Landscape Supply by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company’s stock worth $25,907,000 after buying an additional 11,574 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of SiteOne Landscape Supply by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company’s stock worth $20,679,000 after buying an additional 16,378 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of SiteOne Landscape Supply in the 1st quarter valued at $6,797,000.

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.