Conestoga Capital Advisors LLC Grows Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Conestoga Capital Advisors LLC raised its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,183,574 shares of the industrial products company's stock after buying an additional 16,120 shares during the quarter. SiteOne Landscape Supply makes up approximately 2.2% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 18th largest position. Conestoga Capital Advisors LLC owned about 2.63% of SiteOne Landscape Supply worth $143,733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of SiteOne Landscape Supply during the 4th quarter worth $40,676,000. Artisan Partners Limited Partnership boosted its holdings in SiteOne Landscape Supply by 137.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 368,142 shares of the industrial products company's stock valued at $48,510,000 after acquiring an additional 212,907 shares during the period. BLI Banque de Luxembourg Investments acquired a new position in shares of SiteOne Landscape Supply in the fourth quarter valued at approximately $22,787,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in SiteOne Landscape Supply by 320.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 226,300 shares of the industrial products company's stock worth $29,713,000 after buying an additional 172,500 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in SiteOne Landscape Supply by 9.7% in the fourth quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock valued at $228,107,000 after purchasing an additional 153,447 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Loop Capital reduced their target price on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a report on Friday, April 4th. Barclays reduced their price objective on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Truist Financial lowered their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada decreased their target price on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $145.70.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE traded up $0.12 during trading on Wednesday, reaching $116.81. The company had a trading volume of 397,418 shares, compared to its average volume of 429,281. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.36 and a quick ratio of 0.97. The stock's fifty day moving average price is $118.30 and its 200 day moving average price is $127.87. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.75. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 46.54, a price-to-earnings-growth ratio of 1.91 and a beta of 1.56.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.11). The firm had revenue of $939.40 million during the quarter, compared to analysts' expectations of $933.90 million. SiteOne Landscape Supply had a net margin of 2.53% and a return on equity of 7.31%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS. As a group, equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

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.