Kornitzer Capital Management Inc. KS Increases Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Kornitzer Capital Management Inc. KS grew its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 63.7% during the 3rd quarter, according to the company in its most recent disclosure 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 owned approximately 0.12% of SiteOne Landscape Supply worth $8,373,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Norden Group LLC purchased a new position in shares of SiteOne Landscape Supply during the first quarter worth about $283,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of SiteOne Landscape Supply by 22.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 7,403 shares of the industrial products company's stock worth $1,292,000 after buying an additional 1,336 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of SiteOne Landscape Supply during the first quarter worth about $934,000. Oppenheimer Asset Management Inc. grew its holdings in shares of SiteOne Landscape Supply by 54.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 22,151 shares of the industrial products company's stock worth $3,866,000 after buying an additional 7,829 shares during the last quarter. Finally, Swiss National Bank lifted its position in SiteOne Landscape Supply by 0.5% in the first quarter. Swiss National Bank now owns 89,100 shares of the industrial products company's stock valued at $15,552,000 after purchasing an additional 400 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Robert W. Baird raised 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 report on Wednesday, October 16th. StockNews.com upgraded shares of SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Thursday. Jefferies Financial Group reduced their price objective 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. The Goldman Sachs Group assumed coverage on shares of SiteOne Landscape Supply in a research report on Thursday, October 10th. They issued a "neutral" rating and a $158.00 price objective for the company. Finally, Barclays raised their price objective 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, SiteOne Landscape Supply currently has a consensus rating of "Hold" and a consensus target price of $147.80.

SiteOne Landscape Supply Price Performance

Shares of SiteOne Landscape Supply stock traded down $0.61 during trading on Friday, hitting $151.93. 272,676 shares of the company were exchanged, compared to its average volume of 366,040. 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 fifty-two week low of $114.60 and a fifty-two week high of $188.01. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 49.34 and a beta of 1.53. The firm has a 50 day moving average price of $144.03 and a 200 day moving average price of $141.60.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.21). SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The company's revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.41 earnings per share for the current fiscal year.

SiteOne Landscape Supply 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.