Short Interest in SiteOne Landscape Supply, Inc. (NYSE:SITE) Increases By 16.4%

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

Institutional Trading of SiteOne Landscape Supply

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its position in SiteOne Landscape Supply by 71.2% during the third quarter. Barclays PLC now owns 48,398 shares of the industrial products company’s stock worth $7,304,000 after acquiring an additional 20,134 shares in the last quarter. Holocene Advisors LP raised its position in shares of SiteOne Landscape Supply by 38.2% in the third quarter. Holocene Advisors LP now owns 51,625 shares of the industrial products company’s stock valued at $7,791,000 after purchasing an additional 14,269 shares during the period. Algert Global LLC raised its position in shares of SiteOne Landscape Supply by 375.4% in the third quarter. Algert Global LLC now owns 29,506 shares of the industrial products company’s stock valued at $4,453,000 after purchasing an additional 23,300 shares during the period. Janus Henderson Group PLC raised its position in shares of SiteOne Landscape Supply by 36.5% in the third quarter. Janus Henderson Group PLC now owns 49,784 shares of the industrial products company’s stock valued at $7,512,000 after purchasing an additional 13,314 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of SiteOne Landscape Supply by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 528,873 shares of the industrial products company’s stock valued at $79,812,000 after purchasing an additional 29,025 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SITE shares. 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 research note on Monday, February 10th. Royal Bank of Canada boosted their price objective on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. UBS Group decreased their price objective 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. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Robert W. Baird decreased their price objective 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SiteOne Landscape Supply presently has an average rating of “Hold” and an average target price of $154.56.

SiteOne Landscape Supply Stock Down 1.3 %

SITE traded down $1.59 during trading hours on Wednesday, hitting $122.30. 609,278 shares of the company’s stock were exchanged, compared to its average volume of 372,142. SiteOne Landscape Supply has a 1-year low of $114.60 and a 1-year high of $188.01. The stock’s 50-day moving average is $134.79 and its two-hundred day moving average is $140.20. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 45.46 and a beta of 1.69. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE) last announced its 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%. Sell-side analysts predict that SiteOne Landscape Supply will post 3.61 earnings per share for the current fiscal year.

SiteOne Landscape Supply Company 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.