SiteOne Landscape Supply, Inc. $SITE Shares Acquired by Fenimore Asset Management Inc

Key Points

• Fenimore Asset Management Inc increased its stake in SiteOne Landscape Supply by 2.8%, owning 153,243 shares worth approximately $18.5 million as of the end of the last quarter.
• The company's shares saw various analysts adjusting their ratings, with Zacks lowering its rating from "strong-buy" to "hold" while Loop Capital upgraded it from "hold" to "buy" with a new target price of $160.
• SiteOne reported a net margin of 2.69% for the last quarter, with earnings of $2.86 per share, falling short of the consensus estimate of $2.89.

Fenimore Asset Management Inc boosted its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,243 shares of the industrial products company's stock after acquiring an additional 4,217 shares during the period. Fenimore Asset Management Inc owned about 0.34% of SiteOne Landscape Supply worth $18,533,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of SiteOne Landscape Supply by 24.3% during the first quarter. GAMMA Investing LLC now owns 486 shares of the industrial products company's stock valued at $59,000 after buying an additional 95 shares during the last quarter. NewEdge Advisors LLC boosted its position in SiteOne Landscape Supply by 36.6% during the 1st quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock worth $48,000 after acquiring an additional 107 shares during the period. Deutsche Bank AG boosted its position in SiteOne Landscape Supply by 3.9% during the 1st quarter. Deutsche Bank AG now owns 3,228 shares of the industrial products company's stock worth $392,000 after acquiring an additional 121 shares during the period. Golden State Wealth Management LLC grew its stake in shares of SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company's stock worth $33,000 after purchasing an additional 139 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in shares of SiteOne Landscape Supply by 1.4% during the first quarter. DAVENPORT & Co LLC now owns 11,121 shares of the industrial products company's stock valued at $1,351,000 after purchasing an additional 153 shares during the period.

Analyst Upgrades and Downgrades

SITE has been the subject of a number of research analyst reports. Zacks Research lowered shares of SiteOne Landscape Supply from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Wall Street Zen raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Royal Bank Of Canada upped their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Loop Capital raised SiteOne Landscape Supply from a "hold" rating to a "buy" rating and lifted their target price for the stock from $150.00 to $160.00 in a report on Friday, September 19th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of SiteOne Landscape Supply in a research report on Saturday, September 27th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SiteOne Landscape Supply presently has an average rating of "Hold" and an average price target of $150.50.

SiteOne Landscape Supply Trading Down 0.9%

NYSE:SITE opened at $127.45 on Monday. The stock has a fifty day simple moving average of $138.21 and a 200 day simple moving average of $126.60. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 46.51, a price-to-earnings-growth ratio of 2.13 and a beta of 1.59. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.74. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted 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). SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm posted $2.63 EPS. SiteOne Landscape Supply's quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Insider Activity at SiteOne Landscape Supply

In related news, CEO Doug Black sold 7,384 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were 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 approximately $79,312,912.14. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

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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