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

SiteOne Landscape Supply, Inc. (NYSE:SITE) was the target of a significant 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 company are sold short. Based on an average daily trading volume, of 376,300 shares, the short-interest ratio is presently 6.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its stake in shares of SiteOne Landscape Supply by 90.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 210 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of SiteOne Landscape Supply by 657.9% during the fourth quarter. Trust Co. of Vermont now owns 288 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 250 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of SiteOne Landscape Supply by 78.9% during the fourth quarter. Tortoise Investment Management LLC now owns 297 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 131 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of SiteOne Landscape Supply during the fourth quarter worth about $40,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of SiteOne Landscape Supply by 395.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 342 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 273 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently commented on SITE shares. Stifel Nicolaus reiterated a “hold” rating and set a $140.00 price objective (down from $145.00) on shares of SiteOne Landscape Supply in a research note on Monday, February 10th. Royal Bank of Canada raised their target price 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. StockNews.com raised shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Sunday, March 16th. UBS Group reduced their target price 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. Finally, Robert W. Baird reduced their target price 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 issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $154.56.

SiteOne Landscape Supply Stock Down 0.5 %

SITE opened at $122.00 on Friday. SiteOne Landscape Supply has a fifty-two week low of $114.60 and a fifty-two week high of $188.01. 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 fifty day moving average of $134.49 and a two-hundred day moving average of $139.95. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 45.35 and a beta of 1.69.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts expect that SiteOne Landscape Supply will post 3.61 earnings per share for the current year.

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.