SiteOne Landscape Supply, Inc. $SITE Shares Purchased by Wasatch Advisors LP

Key Points

• Wasatch Advisors LP increased its stake in SiteOne Landscape Supply by 1.6% in the first quarter, bringing its holdings to 2.12 million shares worth about $282.4 million. The stock is now one of the fund’s top positions.
• SiteOne’s latest earnings missed expectations, with quarterly EPS of -$0.60 versus analysts’ estimate of -$0.33 and revenue of $940.1 million below forecasts. Revenue was roughly flat year over year.
• Analyst sentiment is mixed: the stock carries a consensus “Hold” rating with a $159.70 price target, while recent updates included a downgrade from Weiss Ratings and price-target cuts from several firms. Shares were trading around $116.34, near their 50-day average and well below the 52-week high.

Wasatch Advisors LP raised its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,121,524 shares of the industrial products company's stock after acquiring an additional 33,347 shares during the period. SiteOne Landscape Supply makes up 1.9% of Wasatch Advisors LP's holdings, making the stock its 11th largest position. Wasatch Advisors LP owned approximately 4.79% of SiteOne Landscape Supply worth $282,396,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Man Group plc increased its holdings in shares of SiteOne Landscape Supply by 0.4% during the second quarter. Man Group plc now owns 22,338 shares of the industrial products company's stock valued at $2,702,000 after purchasing an additional 86 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of SiteOne Landscape Supply by 0.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the industrial products company's stock valued at $2,109,000 after purchasing an additional 89 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock worth $48,000 after purchasing an additional 107 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its holdings in SiteOne Landscape Supply by 2.0% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 5,915 shares of the industrial products company's stock worth $737,000 after purchasing an additional 118 shares during the period. Finally, Xponance LLC grew its position in SiteOne Landscape Supply by 3.3% in the 4th quarter. Xponance LLC now owns 3,800 shares of the industrial products company's stock valued at $473,000 after buying an additional 121 shares in the last quarter.

SiteOne Landscape Supply Trading Up 1.2%

SiteOne Landscape Supply stock opened at $116.34 on Friday. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. SiteOne Landscape Supply, Inc. has a 1 year low of $100.52 and a 1 year high of $168.56. The firm's 50 day moving average price is $117.95 and its two-hundred day moving average price is $130.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 2.33.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. SiteOne Landscape Supply's revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted ($0.61) EPS. On average, research analysts predict that SiteOne Landscape Supply, Inc. will post 4.06 EPS for the current fiscal year.

Analyst Ratings Changes

SITE has been the topic of several research analyst reports. Weiss Ratings cut shares of SiteOne Landscape Supply from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 6th. Stifel Nicolaus reduced their price target on shares of SiteOne Landscape Supply from $157.00 to $153.00 and set a "buy" rating for the company in a research note on Monday, June 22nd. Bank of America decreased their price objective on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating for the company in a report on Monday, April 20th. Robert W. Baird set a $160.00 price objective on shares of SiteOne Landscape Supply in a research note on Thursday, April 30th. Finally, Barclays dropped their target price on SiteOne Landscape Supply from $150.00 to $148.00 and set an "equal weight" rating on the stock in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $159.70.

Insider Activity

In other news, Director Fred M. Diaz sold 562 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total transaction of $63,236.24. Following the completion of the sale, the director directly owned 11,267 shares of the company's stock, valued at $1,267,762.84. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by company insiders.

About SiteOne Landscape Supply

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.

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