Kornitzer Capital Management Inc. KS Grows Stake in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Kornitzer Capital Management Inc. KS increased its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 63.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,485 shares of the industrial products company’s stock after purchasing an additional 21,585 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in SiteOne Landscape Supply were worth $8,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. bought a new position in shares of SiteOne Landscape Supply during the second quarter valued at approximately $27,000. Toronto Dominion Bank purchased a new position in SiteOne Landscape Supply in the 1st quarter worth about $29,000. Blue Trust Inc. raised its stake in shares of SiteOne Landscape Supply by 287.7% during the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 187 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of SiteOne Landscape Supply in the third quarter valued at approximately $49,000. Finally, Quarry LP bought a new position in SiteOne Landscape Supply in the second quarter worth approximately $61,000.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $152.46 on Friday. The firm has a market cap of $6.88 billion, a PE ratio of 49.34 and a beta of 1.53. SiteOne Landscape Supply, Inc. has a 12 month low of $114.60 and a 12 month high of $188.01. The stock has a fifty day moving average price of $144.03 and a 200-day moving average price of $141.60. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. SiteOne Landscape Supply had a net margin of 3.16% and a return on equity of 9.21%. SiteOne Landscape Supply’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 earnings per share. Equities research analysts predict that SiteOne Landscape Supply, Inc. will post 3.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SITE shares. Truist Financial upped their target price on SiteOne Landscape Supply from $158.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays raised their target price on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group lowered their price target on shares of SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Robert W. Baird increased their price objective on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group assumed coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They issued a “neutral” rating and a $158.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus price target of $147.80.

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.