Stephens Investment Management Group LLC Cuts Holdings in SiteOne Landscape Supply, Inc. $SITE

Stephens Investment Management Group LLC cut its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 5.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 436,894 shares of the industrial products company’s stock after selling 24,910 shares during the period. Stephens Investment Management Group LLC’s holdings in SiteOne Landscape Supply were worth $56,272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Allworth Financial LP increased its stake in SiteOne Landscape Supply by 61.2% during the second quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. NewEdge Advisors LLC increased its position in 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 acquiring an additional 107 shares during the last quarter. HM Payson & Co. lifted its holdings in shares of SiteOne Landscape Supply by 32.2% in the 3rd quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 97 shares during the last quarter. Tower Research Capital LLC TRC raised its position in SiteOne Landscape Supply by 145.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 456 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 270 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of SiteOne Landscape Supply by 49.5% during the 2nd quarter. Parallel Advisors LLC now owns 562 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 186 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Stifel Nicolaus reduced their price objective on shares of SiteOne Landscape Supply from $140.00 to $134.00 and set a “hold” rating for the company in a research note on Tuesday, December 16th. The Goldman Sachs Group cut their target price on SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. William Blair reiterated a “market perform” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, October 15th. Finally, Barclays set a $134.00 target price on SiteOne Landscape Supply and gave the company an “equal weight” rating in a research report on Monday, December 8th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $150.10.

SiteOne Landscape Supply Stock Down 1.3%

SiteOne Landscape Supply stock opened at $147.91 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.49 and a quick ratio of 1.14. The stock has a market capitalization of $6.59 billion, a PE ratio of 48.02, a price-to-earnings-growth ratio of 1.58 and a beta of 1.58. The business has a 50 day simple moving average of $130.98 and a 200-day simple moving average of $131.76. SiteOne Landscape Supply, Inc. has a 12 month low of $101.25 and a 12 month high of $154.00.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. SiteOne Landscape Supply had a net margin of 2.98% and a return on equity of 8.62%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

SiteOne Landscape Supply Company Profile

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.