SiteOne Landscape Supply, Inc. (NYSE:SITE) Position Cut by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,666 shares of the industrial products company's stock after selling 2,842 shares during the quarter. Squarepoint Ops LLC's holdings in SiteOne Landscape Supply were worth $878,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of SiteOne Landscape Supply by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,162,578 shares of the industrial products company's stock worth $548,503,000 after purchasing an additional 49,256 shares in the last quarter. Wasatch Advisors LP lifted its position in SiteOne Landscape Supply by 9.7% during the 4th quarter. Wasatch Advisors LP now owns 1,731,098 shares of the industrial products company's stock worth $228,107,000 after acquiring an additional 153,447 shares in the last quarter. Bamco Inc. NY lifted its position 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 worth $217,786,000 after acquiring an additional 72,430 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings 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 acquiring an additional 91,719 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in 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 acquiring an additional 30,725 shares in the last quarter.

SiteOne Landscape Supply Stock Performance

Shares of SITE stock traded up $5.84 on Tuesday, hitting $120.02. 521,557 shares of the stock traded hands, compared to its average volume of 433,271. The company's fifty day moving average is $116.90 and its 200 day moving average is $129.82. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $160.75. The company has a market capitalization of $5.38 billion, a PE ratio of 44.62 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16.

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 analysts' consensus estimates of ($0.50) by ($0.11). SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. The business had revenue of $939.40 million during the quarter, compared to the consensus estimate of $933.90 million. During the same quarter in the previous year, the business posted ($0.43) earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on SITE. Truist Financial reduced their target price on shares of SiteOne Landscape Supply from $165.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada dropped their price target on shares of SiteOne Landscape Supply from $136.00 to $130.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Barclays decreased their price objective on shares of SiteOne Landscape Supply from $120.00 to $106.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Robert W. Baird dropped their target price on SiteOne Landscape Supply from $183.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, Loop Capital cut their price target on SiteOne Landscape Supply from $150.00 to $125.00 and set a "hold" rating on the stock in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $145.70.

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.