Pier Capital LLC Purchases New Stake in SiteOne Landscape Supply, Inc. $SITE

Key Points

• Pier Capital LLC bought a new stake of 30,403 shares in SiteOne (~$3.79 million) in Q4, representing about 0.07% of the company.
• SiteOne recently reported quarterly results that missed expectations—EPS of ($0.60) vs. consensus ($0.33) and revenue of $940.1M vs. $982.27M—while revenue was essentially flat year‑over‑year (+0.1%).
• Analyst coverage is mixed (six Buys, five Holds, one Sell) with an overall average rating of "Hold" and an average price target of $160.10.

Pier Capital LLC purchased a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,403 shares of the industrial products company's stock, valued at approximately $3,787,000. Pier Capital LLC owned approximately 0.07% of SiteOne Landscape Supply as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC increased its stake in shares of SiteOne Landscape Supply by 541.9% in the 4th quarter. True Wealth Design LLC now owns 199 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of SiteOne Landscape Supply by 36.6% in the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock valued at $48,000 after buying an additional 107 shares during the last quarter. Danske Bank A S bought a new stake in shares of SiteOne Landscape Supply in the 3rd quarter valued at about $52,000. Tower Research Capital LLC TRC grew its position in shares of SiteOne Landscape Supply by 145.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 456 shares of the industrial products company's stock valued at $55,000 after buying an additional 270 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of SiteOne Landscape Supply by 276.5% in the 3rd quarter. Bessemer Group Inc. now owns 448 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 329 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SITE. UBS Group began coverage on SiteOne Landscape Supply in a research note on Friday, April 10th. They issued a "neutral" rating and a $140.00 price objective on the stock. Truist Financial increased their price objective on SiteOne Landscape Supply from $165.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Stifel Nicolaus raised SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $157.00 price objective for the company in a research note on Monday. Zacks Research raised SiteOne Landscape Supply from a "strong sell" rating to a "hold" rating in a report on Friday, February 13th. Finally, Weiss Ratings lowered SiteOne Landscape Supply from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $160.10.

SiteOne Landscape Supply Price Performance

SiteOne Landscape Supply stock opened at $125.06 on Friday. SiteOne Landscape Supply, Inc. has a one year low of $112.23 and a one year high of $168.56. The business has a fifty day moving average price of $134.65 and a 200-day moving average price of $135.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96. The firm has a market capitalization of $5.54 billion, a P/E ratio of 37.11, a PEG ratio of 1.59 and a beta of 1.42.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.27). The company had revenue of $940.10 million during the quarter, compared to the consensus estimate of $982.27 million. SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.SiteOne Landscape Supply's revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.61) earnings per share. As a group, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 4.18 EPS for the current year.

Insider Transactions at SiteOne Landscape Supply

In related news, EVP Eric J. Elema sold 1,765 shares of SiteOne Landscape Supply stock in a transaction on Friday, February 13th. The stock was sold at an average price of $158.01, for a total transaction of $278,887.65. Following the completion of the sale, the executive vice president owned 2,911 shares of the company's stock, valued at approximately $459,967.11. This trade represents a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company's stock.

SiteOne Landscape Supply 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.

Want to see what other hedge funds are holding SITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.