SiteOne Landscape Supply, Inc. (NYSE:SITE) Short Interest Update

SiteOne Landscape Supply, Inc. (NYSE:SITE) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,340,000 shares, a growth of 16.4% from the February 13th total of 2,010,000 shares. Currently, 5.3% of the shares of the stock are sold short. Based on an average trading volume of 376,300 shares, the short-interest ratio is presently 6.2 days.

SiteOne Landscape Supply Price Performance

SITE traded up $1.79 during midday trading on Thursday, hitting $124.44. The company had a trading volume of 142,698 shares, compared to its average volume of 371,528. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53. The company has a market capitalization of $5.60 billion, a PE ratio of 46.26 and a beta of 1.69. SiteOne Landscape Supply has a twelve month low of $114.60 and a twelve month high of $188.01. The firm’s 50-day simple moving average is $134.64 and its 200-day simple moving average is $140.08.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. Equities research analysts predict that SiteOne Landscape Supply will post 3.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SITE has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Stifel Nicolaus reissued a “hold” rating and set a $140.00 price target (down from $145.00) on shares of SiteOne Landscape Supply in a report on Monday, February 10th. Jefferies Financial Group raised shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and lifted their price target for the company from $145.00 to $175.00 in a report on Friday, December 6th. StockNews.com raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Robert W. Baird cut their price target on shares of SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply presently has an average rating of “Hold” and an average target price of $154.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its stake in SiteOne Landscape Supply by 90.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Trust Co. of Vermont boosted its stake in SiteOne Landscape Supply by 657.9% during the 4th quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 250 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in SiteOne Landscape Supply by 78.9% in the fourth quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company’s stock valued at $39,000 after buying an additional 131 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in SiteOne Landscape Supply in the fourth quarter valued at approximately $40,000. Finally, Brown Brothers Harriman & Co. lifted its stake in SiteOne Landscape Supply by 395.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company’s stock valued at $45,000 after buying an additional 273 shares in the last quarter.

About SiteOne Landscape Supply

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.