SiteOne Landscape Supply, Inc. $SITE Stock Bought by Bridge City Capital LLC

Key Points

• Bridge City Capital increased its SiteOne Landscape Supply stake by 41.2% in the third quarter, owning 84,477 shares worth approximately $7.6 million, or 0.19% of the company.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, seven Hold, and one Sell. The consensus rating is Hold, with an average price target of $123.
• SiteOne reported quarterly EPS of $1.46, matching expectations, while revenue reached $1.29 billion and increased 2.6% year over year. CEO Doug Black also purchased 5,000 shares for approximately $481,000.

Bridge City Capital LLC lifted its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 41.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,477 shares of the industrial products company's stock after buying an additional 24,642 shares during the quarter. SiteOne Landscape Supply makes up about 1.6% of Bridge City Capital LLC's investment portfolio, making the stock its 22nd largest position. Bridge City Capital LLC owned about 0.19% of SiteOne Landscape Supply worth $7,629,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Whittier Trust Co. boosted its holdings in shares of SiteOne Landscape Supply by 72.7% during the 1st quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $27,000 after purchasing an additional 88 shares during the last quarter. Parallel Advisors LLC raised its stake in SiteOne Landscape Supply by 15.6% during the first quarter. Parallel Advisors LLC now owns 652 shares of the industrial products company's stock valued at $87,000 after buying an additional 88 shares in the last quarter. Basecamp Wealth Advisors LLC grew its holdings in SiteOne Landscape Supply by 219.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company's stock worth $25,000 after acquiring an additional 127 shares during the period. Hsbc Holdings PLC increased its stake in SiteOne Landscape Supply by 10.2% in the 1st quarter. Hsbc Holdings PLC now owns 2,080 shares of the industrial products company's stock valued at $277,000 after buying an additional 192 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of SiteOne Landscape Supply by 114.3% during the 3rd quarter. Versant Capital Management Inc now owns 420 shares of the industrial products company's stock worth $38,000 after buying an additional 224 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of SiteOne Landscape Supply from $135.00 to $124.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 7th. UBS Group boosted their target price on SiteOne Landscape Supply from $110.00 to $122.00 and gave the stock a "neutral" rating in a research note on Thursday. Truist Financial reduced their target price on SiteOne Landscape Supply from $200.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Robert W. Baird decreased their target price on SiteOne Landscape Supply from $160.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, July 28th. Finally, Zacks Research downgraded shares of SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 27th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $123.00.

SiteOne Landscape Supply Stock Performance

NYSE:SITE opened at $110.59 on Monday. The firm has a market capitalization of $4.77 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. SiteOne Landscape Supply, Inc. has a 12 month low of $82.00 and a 12 month high of $168.56. The business's fifty day moving average price is $94.63 and its 200 day moving average price is $116.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.41 and a quick ratio of 1.03.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its earnings results on Wednesday, October 28th. The industrial products company reported $1.46 EPS for the quarter, meeting analysts' consensus estimates of $1.46. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.30 billion. SiteOne Landscape Supply had a return on equity of 10.06% and a net margin of 3.49%. SiteOne Landscape Supply's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 EPS. On average, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Doug Black acquired 5,000 shares of the stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $96.13 per share, for a total transaction of $480,650.00. Following the transaction, the chief executive officer owned 13,000 shares in the company, valued at approximately $1,249,690. This trade represents a 62.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company's stock.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply, Inc NYSE: SITE is a wholesale distributor of landscape and outdoor living products in the United States and Canada. The company serves landscape professionals, irrigation contractors, golf course and sports-turf managers, nursery and greenhouse operators, and other customers in the green industry.

Its product offerings include irrigation and water-management systems, landscape lighting, nursery and greenhouse supplies, fertilizers and other agronomic products, turf-care equipment, hardscape materials, outdoor living products, and pest-control supplies.

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