T. Rowe Price Investment Management Inc. Buys 91,719 Shares of SiteOne Landscape Supply, Inc. (NYSE:SITE)

T. Rowe Price Investment Management Inc. raised its stake in SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,598,005 shares of the industrial products company's stock after acquiring an additional 91,719 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 3.54% of SiteOne Landscape Supply worth $210,570,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC grew its position in shares of SiteOne Landscape Supply by 71.2% in the third quarter. Barclays PLC now owns 48,398 shares of the industrial products company's stock valued at $7,304,000 after purchasing an additional 20,134 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of SiteOne Landscape Supply in the third quarter valued at $71,000. Tidal Investments LLC grew its position in SiteOne Landscape Supply by 1.5% during the third quarter. Tidal Investments LLC now owns 5,166 shares of the industrial products company's stock valued at $780,000 after acquiring an additional 77 shares during the period. Synovus Financial Corp grew its position in SiteOne Landscape Supply by 12.0% during the third quarter. Synovus Financial Corp now owns 1,954 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 209 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new stake in SiteOne Landscape Supply during the third quarter valued at about $1,099,000.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SITE shares. Royal Bank of Canada raised their price target on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. UBS Group reduced their price target on shares of SiteOne Landscape Supply from $185.00 to $182.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus cut their price objective on shares of SiteOne Landscape Supply from $145.00 to $126.00 and set a "hold" rating on the stock in a research note on Monday. Robert W. Baird cut their price objective on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of SiteOne Landscape Supply in a research report on Tuesday, April 1st. They issued a "hold" rating and a $135.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, SiteOne Landscape Supply has a consensus rating of "Hold" and a consensus target price of $148.30.

SiteOne Landscape Supply Stock Performance

NYSE:SITE traded down $0.44 during midday trading on Tuesday, reaching $114.59. The stock had a trading volume of 244,055 shares, compared to its average volume of 413,987. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 1.16. The stock has a market capitalization of $5.15 billion, a P/E ratio of 42.56 and a beta of 1.62. The firm's fifty day simple moving average is $120.36 and its 200-day simple moving average is $134.31. SiteOne Landscape Supply, Inc. has a 1-year low of $101.25 and a 1-year high of $165.97.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. On average, equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

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.