Equitable Trust Co. Grows Stake in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Equitable Trust Co. has increased its stake in SiteOne Landscape Supply, Inc. by 83.6%, now owning 6,320 shares worth approximately $764,000.
• Analysts have given mixed ratings for SiteOne, with Loop Capital upgrading its rating to buy and increasing the price target to $160.00, while others have lowered their ratings and targets, resulting in a consensus rating of "Hold".
• SiteOne reported a net margin of 2.69% for the latest quarter, with earnings per share of $2.86, slightly missing estimates, and a revenue of $1.46 billion, which was below the expected $1.49 billion.

Equitable Trust Co. raised its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 83.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,320 shares of the industrial products company's stock after acquiring an additional 2,878 shares during the quarter. Equitable Trust Co.'s holdings in SiteOne Landscape Supply were worth $764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its position in SiteOne Landscape Supply by 22.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,877 shares of the industrial products company's stock valued at $228,000 after acquiring an additional 342 shares in the last quarter. Teacher Retirement System of Texas boosted its position in SiteOne Landscape Supply by 124.5% during the 1st quarter. Teacher Retirement System of Texas now owns 8,886 shares of the industrial products company's stock valued at $1,079,000 after acquiring an additional 4,927 shares in the last quarter. GAMMA Investing LLC boosted its position in SiteOne Landscape Supply by 24.3% during the 1st quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 95 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in SiteOne Landscape Supply by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 555,858 shares of the industrial products company's stock valued at $67,503,000 after acquiring an additional 2,951 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in SiteOne Landscape Supply by 18.3% during the 1st quarter. TD Asset Management Inc now owns 61,389 shares of the industrial products company's stock valued at $7,455,000 after acquiring an additional 9,496 shares in the last quarter.

Analyst Ratings Changes

SITE has been the topic of several research analyst reports. William Blair restated a "market perform" rating on shares of SiteOne Landscape Supply in a research note on Wednesday. Loop Capital upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and increased their price target for the company from $150.00 to $160.00 in a research note on Friday, September 19th. The Goldman Sachs Group decreased their price target on SiteOne Landscape Supply from $158.00 to $138.00 and set a "neutral" rating for the company in a research note on Monday. Zacks Research cut SiteOne Landscape Supply from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Royal Bank Of Canada increased their price target on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $148.50.

SiteOne Landscape Supply Stock Down 1.3%

SiteOne Landscape Supply stock opened at $122.45 on Thursday. The company has a market cap of $5.46 billion, a PE ratio of 44.69, a PEG ratio of 2.11 and a beta of 1.59. The business's 50-day simple moving average is $135.87 and its two-hundred day simple moving average is $126.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 2.41. SiteOne Landscape Supply, Inc. has a fifty-two week low of $101.25 and a fifty-two week high of $160.74.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.03). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. SiteOne Landscape Supply had a net margin of 2.69% and a return on equity of 7.80%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $2.63 EPS. Equities analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current year.

Insider Activity

In other news, CEO Doug Black sold 7,384 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $132.09, for a total value of $975,352.56. Following the completion of the transaction, the chief executive officer owned 600,446 shares of the company's stock, valued at $79,312,912.14. The trade was a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

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.

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