Point72 Asset Management L.P. Makes New Investment in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Point72 Asset Management L.P. purchased a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 69,378 shares of the industrial products company's stock, valued at approximately $9,142,000. Point72 Asset Management L.P. owned 0.15% of SiteOne Landscape Supply as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its stake in SiteOne Landscape Supply by 657.9% in the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company's stock valued at $38,000 after buying an additional 250 shares during the period. Tortoise Investment Management LLC raised its position in shares of SiteOne Landscape Supply by 78.9% during the fourth quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company's stock worth $39,000 after purchasing an additional 131 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of SiteOne Landscape Supply during the fourth quarter worth approximately $40,000. Brown Brothers Harriman & Co. raised its position in shares of SiteOne Landscape Supply by 395.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company's stock worth $45,000 after purchasing an additional 273 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of SiteOne Landscape Supply by 11.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,498 shares of the industrial products company's stock worth $197,000 after purchasing an additional 156 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SITE. UBS Group lowered their target price on SiteOne Landscape Supply from $185.00 to $182.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Barclays lowered their target price on SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada lowered their target price on SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on SiteOne Landscape Supply in a research report on Tuesday, April 1st. They set a "hold" rating and a $135.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $145.70.

SiteOne Landscape Supply Stock Up 0.0%

NYSE SITE traded up $0.04 on Friday, reaching $115.81. The company had a trading volume of 432,157 shares, compared to its average volume of 430,096. The stock has a market capitalization of $5.19 billion, a P/E ratio of 43.05 and a beta of 1.62. The company's fifty day moving average is $117.88 and its 200 day moving average is $131.22. SiteOne Landscape Supply, Inc. has a 52-week low of $101.25 and a 52-week high of $160.75. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

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

SiteOne Landscape Supply Profile

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.