NBC Securities Inc. Raises Stock Holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE)

NBC Securities Inc. grew its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 114,200.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,429 shares of the industrial products company's stock after purchasing an additional 3,426 shares during the quarter. NBC Securities Inc.'s holdings in SiteOne Landscape Supply were worth $416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SITE. Barclays PLC boosted its position in SiteOne Landscape Supply by 71.2% during the third quarter. Barclays PLC now owns 48,398 shares of the industrial products company's stock worth $7,304,000 after purchasing an additional 20,134 shares during the period. WCM Investment Management LLC boosted its position in shares of SiteOne Landscape Supply by 593.6% in the fourth quarter. WCM Investment Management LLC now owns 131,317 shares of the industrial products company's stock valued at $17,242,000 after acquiring an additional 112,385 shares during the period. Birch Hill Investment Advisors LLC bought a new position in shares of SiteOne Landscape Supply in the fourth quarter valued at approximately $325,000. Buckhead Capital Management LLC boosted its position in shares of SiteOne Landscape Supply by 8.5% in the fourth quarter. Buckhead Capital Management LLC now owns 2,230 shares of the industrial products company's stock valued at $294,000 after acquiring an additional 174 shares during the period. Finally, Empire Life Investments Inc. boosted its position in shares of SiteOne Landscape Supply by 11.6% in the fourth quarter. Empire Life Investments Inc. now owns 49,749 shares of the industrial products company's stock valued at $6,555,000 after acquiring an additional 5,187 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently commented on SITE. Stifel Nicolaus cut their price objective on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Royal Bank of Canada cut their price objective on shares of 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. Truist Financial cut their price objective on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird cut their price objective on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, UBS Group dropped their target price on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $145.70.

SiteOne Landscape Supply Price Performance

Shares of SITE stock traded down $1.44 during trading hours on Friday, hitting $122.15. 468,903 shares of the company's stock were exchanged, compared to its average volume of 431,225. The company has a market capitalization of $5.47 billion, a PE ratio of 45.41 and a beta of 1.62. SiteOne Landscape Supply, Inc. has a 12-month low of $101.25 and a 12-month high of $160.75. The business's 50 day simple moving average is $116.83 and its 200-day simple moving average is $129.46. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.11). The business had revenue of $939.40 million for the quarter, compared to analysts' expectations of $933.90 million. SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. The company's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted ($0.43) earnings per share. On average, equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share 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.