Squarepoint Ops LLC Buys New Stake in SiteOne Landscape Supply, Inc. $SITE

Squarepoint Ops LLC purchased a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the second quarter, according to its most recent filing with the SEC. The fund purchased 60,982 shares of the industrial products company’s stock, valued at approximately $6,977,000.

Several other hedge funds have also bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of SiteOne Landscape Supply by 11,170.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,861,568 shares of the industrial products company’s stock valued at $670,622,000 after purchasing an additional 5,809,559 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of SiteOne Landscape Supply during the second quarter valued at about $232,115,000. BlackRock Inc. bought a new stake in shares of SiteOne Landscape Supply in the second quarter worth about $221,355,000. Jupiter Topco LLC purchased a new stake in shares of SiteOne Landscape Supply in the second quarter worth about $59,521,000. Finally, Amundi purchased a new stake in shares of SiteOne Landscape Supply in the third quarter worth about $59,763,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SITE shares. Barclays cut their price target on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. UBS Group reduced their price target on shares of SiteOne Landscape Supply from $140.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings raised shares of SiteOne Landscape Supply from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada dropped their price objective on shares of SiteOne Landscape Supply from $171.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $135.27.

Insiders Place Their Bets

In other news, CEO Doug Black bought 8,000 shares of SiteOne Landscape Supply stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average price of $102.03 per share, with a total value of $816,240.00. Following the completion of the purchase, the chief executive officer owned 8,000 shares in the company, valued at $816,240. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by company insiders.

SiteOne Landscape Supply Price Performance

NYSE:SITE opened at $94.48 on Friday. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.42 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.01. The business has a 50 day simple moving average of $100.34 and a 200-day simple moving average of $116.11. SiteOne Landscape Supply, Inc. has a 1 year low of $90.07 and a 1 year high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.22). SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm posted $2.86 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 EPS for the current year.

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.