Summit Creek Advisors LLC Acquires 13,312 Shares of SiteOne Landscape Supply, Inc. $SITE

Key Points

• Summit Creek Advisors LLC increased its stake in SiteOne Landscape Supply by 22.1% in the fourth quarter, buying 13,312 additional shares and bringing its total holdings to 73,442 shares valued at about $9.15 million.
• SiteOne Landscape Supply shares were trading up 2.9% at $113.94, but the stock remains well below its 12-month high of $168.56 and near its 12-month low of $109.10.
• The company reported weaker-than-expected quarterly results, with EPS of ($0.60) versus the expected ($0.33) and revenue of $940.1 million versus estimates of $982.27 million, while analysts currently have a consensus rating of Hold with a target price of $160.10.

Summit Creek Advisors LLC lifted its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 22.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,442 shares of the industrial products company's stock after purchasing an additional 13,312 shares during the quarter. Summit Creek Advisors LLC owned about 0.16% of SiteOne Landscape Supply worth $9,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SITE. Millennium Management LLC boosted its position in shares of SiteOne Landscape Supply by 45.9% during the first quarter. Millennium Management LLC now owns 75,149 shares of the industrial products company's stock valued at $9,126,000 after purchasing an additional 23,657 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of SiteOne Landscape Supply by 36.6% during the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 107 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of SiteOne Landscape Supply by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 213,331 shares of the industrial products company's stock valued at $25,907,000 after purchasing an additional 11,574 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of SiteOne Landscape Supply by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 170,285 shares of the industrial products company's stock valued at $20,679,000 after purchasing an additional 16,378 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of SiteOne Landscape Supply during the first quarter valued at approximately $6,797,000.

SiteOne Landscape Supply Trading Up 2.9%

SiteOne Landscape Supply stock opened at $113.94 on Thursday. SiteOne Landscape Supply, Inc. has a 12 month low of $109.10 and a 12 month high of $168.56. The business's fifty day simple moving average is $130.80 and its two-hundred day simple moving average is $134.65. The company has a current ratio of 2.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.27). SiteOne Landscape Supply had a return on equity of 9.22% and a net margin of 3.24%.The business had revenue of $940.10 million during the quarter, compared to analysts' expectations of $982.27 million. During the same quarter in the prior year, the firm earned ($0.61) EPS. The firm's revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts predict that SiteOne Landscape Supply, Inc. will post 4.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SITE shares. Deutsche Bank Aktiengesellschaft upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a research report on Thursday, April 30th. 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. Zacks Research raised SiteOne Landscape Supply from a "strong sell" rating to a "hold" rating in a report on Friday, February 13th. Royal Bank Of Canada boosted their target price on SiteOne Landscape Supply from $151.00 to $171.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Finally, Bank of America dropped their target price on SiteOne Landscape Supply from $182.00 to $167.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, SiteOne Landscape Supply presently has an average rating of "Hold" and a consensus target price of $160.10.

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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