Conestoga Capital Advisors LLC Raises Position in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Conestoga Capital Advisors increased its stake in SiteOne Landscape Supply by 2.9% in the first quarter, bringing its holdings to 1,106,701 shares worth about $147.3 million.
• SiteOne reported weaker-than-expected quarterly results, with EPS of -$0.60 and revenue of $940.1 million, both below analyst estimates.
• Analyst sentiment is mixed: while several firms still rate SITE a Buy, recent moves included target cuts and downgrades, leaving the consensus rating at Hold with a $159.70 price target.

Conestoga Capital Advisors LLC grew its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,106,701 shares of the industrial products company's stock after acquiring an additional 31,684 shares during the quarter. SiteOne Landscape Supply comprises 2.9% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 12th largest position. Conestoga Capital Advisors LLC owned about 2.50% of SiteOne Landscape Supply worth $147,313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SITE. Man Group plc lifted its position in SiteOne Landscape Supply by 0.4% during the second quarter. Man Group plc now owns 22,338 shares of the industrial products company's stock valued at $2,702,000 after purchasing an additional 86 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in SiteOne Landscape Supply by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company's stock worth $2,109,000 after buying an additional 89 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock worth $48,000 after buying an additional 107 shares during the period. Mitchell & Pahl Private Wealth LLC raised its stake in shares of SiteOne Landscape Supply by 2.0% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 5,915 shares of the industrial products company's stock worth $737,000 after buying an additional 118 shares during the period. Finally, Xponance LLC lifted its position in shares of SiteOne Landscape Supply by 3.3% during the 4th quarter. Xponance LLC now owns 3,800 shares of the industrial products company's stock valued at $473,000 after buying an additional 121 shares in the last quarter.

Insider Activity

In other news, Director Fred M. Diaz sold 562 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total value of $63,236.24. Following the completion of the sale, the director directly owned 11,267 shares of the company's stock, valued at $1,267,762.84. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SITE has been the topic of several analyst reports. Stifel Nicolaus lowered their price target on shares of SiteOne Landscape Supply from $157.00 to $153.00 and set a "buy" rating on the stock in a report on Monday, June 22nd. Weiss Ratings cut shares of SiteOne Landscape Supply from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 6th. UBS Group restated a "neutral" rating on shares of SiteOne Landscape Supply in a research report on Thursday, June 25th. Zacks Research downgraded shares of SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a report on Monday, June 22nd. Finally, Bank of America dropped their target price on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating for the company in a report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $159.70.

SiteOne Landscape Supply Stock Down 4.0%

Shares of NYSE SITE opened at $109.81 on Thursday. The firm's 50-day moving average price is $116.20 and its 200-day moving average price is $130.48. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 32.58, a P/E/G ratio of 1.53 and a beta of 1.34. SiteOne Landscape Supply, Inc. has a 12-month low of $100.52 and a 12-month high of $168.56.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.27). SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The company had revenue of $940.10 million during the quarter, compared to analysts' expectations of $982.27 million. During the same quarter in the prior year, the business posted ($0.61) EPS. The company's revenue was up .1% on a year-over-year basis. On average, equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 4.06 EPS for the current fiscal 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.

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