Point72 Asset Management L.P. Takes $9.14 Million Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Point72 Asset Management L.P. purchased a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in SiteOne Landscape Supply by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 4,162,578 shares of the industrial products company's stock worth $548,503,000 after buying an additional 49,256 shares during the period. Wasatch Advisors LP lifted its position in SiteOne Landscape Supply by 9.7% in the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock valued at $228,107,000 after purchasing an additional 153,447 shares during the last quarter. Bamco Inc. NY boosted its stake in SiteOne Landscape Supply by 4.6% during the 4th quarter. Bamco Inc. NY now owns 1,652,772 shares of the industrial products company's stock valued at $217,786,000 after purchasing an additional 72,430 shares during the period. T. Rowe Price Investment Management Inc. grew its position in SiteOne Landscape Supply by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,598,005 shares of the industrial products company's stock worth $210,570,000 after purchasing an additional 91,719 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in shares of SiteOne Landscape Supply by 2.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,167,454 shares of the industrial products company's stock valued at $153,835,000 after purchasing an additional 30,725 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SITE. Truist Financial reduced their price objective on 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. StockNews.com raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note 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 on the stock in a research note on Thursday, February 13th. Royal Bank of Canada decreased their target price 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. Finally, Loop Capital dropped their price target on shares of SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $145.70.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $125.63 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The firm's 50 day moving average is $118.30 and its 200-day moving average is $132.14. SiteOne Landscape Supply, Inc. has a 12-month low of $101.25 and a 12-month high of $160.75. The stock has a market capitalization of $5.63 billion, a P/E ratio of 46.70 and a beta of 1.62.

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) earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $933.90 million. During the same period in the prior year, the company posted ($0.43) EPS. SiteOne Landscape Supply's quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

SiteOne Landscape Supply Company 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.

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