Short Interest in SiteOne Landscape Supply, Inc. (NYSE:SITE) Increases By 16.4%

SiteOne Landscape Supply, Inc. (NYSE:SITE) was the recipient of a large 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 volume of 376,300 shares, the days-to-cover ratio is presently 6.2 days. Approximately 5.3% of the company’s shares are sold short.

Analysts Set New Price Targets

SITE has been the topic of a number of recent analyst reports. StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Sunday. UBS Group cut their target price on SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Robert W. Baird decreased their target price on SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $175.00 in a report on Friday, December 6th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $140.00 price target (down previously from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $154.56.

SiteOne Landscape Supply Stock Down 1.3 %

Shares of SITE stock traded down $1.59 during trading on Wednesday, reaching $122.30. The company’s stock had a trading volume of 609,278 shares, compared to its average volume of 372,142. SiteOne Landscape Supply has a 1-year low of $114.60 and a 1-year high of $188.01. The stock’s 50-day moving average price is $134.79 and its 200 day moving average price is $140.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 45.46 and a beta of 1.69.

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

Institutional Investors Weigh In On SiteOne Landscape Supply

A number of large investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. lifted its holdings in shares of SiteOne Landscape Supply by 90.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 100 shares during the period. Trust Co. of Vermont grew its position in SiteOne Landscape Supply by 657.9% in the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 250 shares in the last quarter. Tortoise Investment Management LLC grew its position in SiteOne Landscape Supply by 78.9% in the fourth quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 131 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in SiteOne Landscape Supply in the fourth quarter valued at approximately $40,000. Finally, Brown Brothers Harriman & Co. grew its position in SiteOne Landscape Supply by 395.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 273 shares in the last quarter.

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.