SiteOne Landscape Supply, Inc. (NYSE:SITE) Sees Significant Growth in Short Interest

SiteOne Landscape Supply, Inc. (NYSE:SITE - Get Free Report) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 2,340,000 shares, an increase of 16.4% from the February 13th total of 2,010,000 shares. Approximately 5.3% of the company's stock are sold short. Based on an average daily trading volume, of 376,300 shares, the short-interest ratio is currently 6.2 days.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SITE. Robert W. Baird reduced their price target on shares of 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. StockNews.com raised SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a report on Sunday, March 16th. UBS Group decreased their target price 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 raised shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and raised their price target for the company from $145.00 to $175.00 in a report on Friday, December 6th. Finally, Royal Bank of Canada boosted their price objective on shares of SiteOne Landscape Supply from $129.00 to $136.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, SiteOne Landscape Supply presently has a consensus rating of "Hold" and an average price target of $154.56.

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Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. KBC Group NV raised its stake in SiteOne Landscape Supply by 19.7% during the 3rd quarter. KBC Group NV now owns 1,361 shares of the industrial products company's stock worth $205,000 after acquiring an additional 224 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of SiteOne Landscape Supply during the 3rd quarter valued at $278,000. CIBC Asset Management Inc bought a new position in SiteOne Landscape Supply in the 3rd quarter worth $200,000. Natixis Advisors LLC increased its stake in SiteOne Landscape Supply by 5.3% in the 3rd quarter. Natixis Advisors LLC now owns 177,718 shares of the industrial products company's stock worth $26,820,000 after buying an additional 8,886 shares in the last quarter. Finally, Pathstone Holdings LLC raised its holdings in SiteOne Landscape Supply by 12.9% during the third quarter. Pathstone Holdings LLC now owns 16,761 shares of the industrial products company's stock valued at $2,529,000 after acquiring an additional 1,914 shares during the period.

SiteOne Landscape Supply Stock Performance

SITE stock traded up $3.51 during midday trading on Monday, reaching $125.51. 153,513 shares of the company's stock traded hands, compared to its average volume of 375,257. The stock's 50-day moving average is $134.37 and its 200 day moving average is $139.88. The stock has a market cap of $5.64 billion, a P/E ratio of 46.66 and a beta of 1.69. SiteOne Landscape Supply has a 52-week low of $114.60 and a 52-week high of $186.42. 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 - Get Free Report) last announced its earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.22). SiteOne Landscape Supply had a return on equity of 7.93% and a net margin of 2.72%. As a group, analysts anticipate that SiteOne Landscape Supply will post 3.61 EPS 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.