Synovus Financial Corp Increases Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Synovus Financial Corp lifted its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 12.0% during the third quarter, Holdings Channel reports. The institutional investor owned 1,954 shares of the industrial products company’s stock after acquiring an additional 209 shares during the quarter. Synovus Financial Corp’s holdings in SiteOne Landscape Supply were worth $295,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. purchased a new stake in SiteOne Landscape Supply in the second quarter worth about $27,000. Nomura Asset Management Co. Ltd. boosted its position in shares of SiteOne Landscape Supply by 90.9% in the 3rd 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. Blue Trust Inc. grew its stake in shares of SiteOne Landscape Supply by 287.7% in the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock worth $38,000 after buying an additional 187 shares during the last quarter. American National Bank & Trust bought a new position in SiteOne Landscape Supply during the 3rd quarter valued at approximately $49,000. Finally, Quarry LP purchased a new position in SiteOne Landscape Supply during the second quarter valued at $61,000.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $135.41 on Thursday. The business has a 50-day simple moving average of $145.85 and a two-hundred day simple moving average of $139.66. 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, Inc. has a 52 week low of $114.60 and a 52 week high of $188.01. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 43.82 and a beta of 1.54.

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 for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.21). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, analysts expect that SiteOne Landscape Supply, Inc. will post 2.94 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SITE. Jefferies Financial Group upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and upped their price target for the stock from $145.00 to $175.00 in a research note on Friday, December 6th. StockNews.com upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. The Goldman Sachs Group began coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They set a “neutral” rating and a $158.00 price target for the company. Robert W. Baird upped their price objective on SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays increased their target price on SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of “Hold” and an average price target of $156.44.

Insider Buying and Selling

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of SiteOne Landscape Supply stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total value of $924,300.00. Following the sale, the executive vice president now directly owns 12,942 shares in the company, valued at approximately $1,840,352.40. The trade was a 33.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by company insiders.

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.