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

SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) was the recipient of a significant growth in short interest in 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 stock are short sold. Based on an average trading volume of 376,300 shares, the days-to-cover ratio is presently 6.2 days.

SiteOne Landscape Supply Price Performance

SITE stock traded up $0.15 during trading on Friday, hitting $122.03. The stock had a trading volume of 890,325 shares, compared to its average volume of 376,041. The company's 50 day moving average price is $134.37 and its two-hundred day moving average price is $139.85. SiteOne Landscape Supply has a 1-year low of $114.60 and a 1-year high of $186.42. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 45.37 and a beta of 1.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.16 and a current ratio of 2.53.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last posted its quarterly 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 net margin of 2.72% and a return on equity of 7.93%. On average, sell-side analysts forecast that SiteOne Landscape Supply will post 3.61 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

SITE has been the subject of several research analyst reports. StockNews.com upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Sunday, March 16th. Stifel Nicolaus reiterated a "hold" rating and issued a $140.00 price objective (down previously from $145.00) on shares of SiteOne Landscape Supply in a research report on Monday, February 10th. UBS Group cut their price objective on SiteOne Landscape Supply from $185.00 to $182.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group upgraded SiteOne Landscape Supply from a "hold" rating to a "buy" rating and increased their price objective for the stock from $145.00 to $175.00 in a research report on Friday, December 6th. Finally, Robert W. Baird cut their price objective on SiteOne Landscape Supply from $183.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $154.56.

Institutional Trading of SiteOne Landscape Supply

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. purchased a new stake in shares of SiteOne Landscape Supply during the 4th quarter worth about $233,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of SiteOne Landscape Supply during the 4th quarter worth about $608,000. Public Employees Retirement System of Ohio grew its holdings in shares of SiteOne Landscape Supply by 10.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 52,847 shares of the industrial products company's stock worth $6,964,000 after purchasing an additional 4,878 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SiteOne Landscape Supply by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 153,907 shares of the industrial products company's stock worth $20,280,000 after purchasing an additional 13,374 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in shares of SiteOne Landscape Supply by 55.7% during the 4th quarter. Voloridge Investment Management LLC now owns 135,194 shares of the industrial products company's stock worth $17,815,000 after purchasing an additional 48,347 shares during the period.

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.