Van ECK Associates Corp Raises Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Van ECK Associates Corp increased its position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 40.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,984 shares of the industrial products company's stock after purchasing an additional 6,853 shares during the quarter. Van ECK Associates Corp owned 0.05% of SiteOne Landscape Supply worth $3,338,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SITE. Norden Group LLC purchased a new stake in SiteOne Landscape Supply in the first quarter valued at $283,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of SiteOne Landscape Supply by 22.0% in 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. acquired a new stake in SiteOne Landscape Supply during the first quarter worth about $934,000. Swiss National Bank raised its position in SiteOne Landscape Supply by 0.5% during the first quarter. Swiss National Bank now owns 89,100 shares of the industrial products company's stock valued at $15,552,000 after acquiring an additional 400 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in SiteOne Landscape Supply during the first quarter valued at approximately $369,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Barclays upped their price objective on SiteOne Landscape Supply from $114.00 to $120.00 and gave the stock an "underweight" rating in a research report on Thursday, October 31st. Truist Financial lifted their price objective on shares of SiteOne Landscape Supply from $158.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Royal Bank of Canada lowered their target price on shares of SiteOne Landscape Supply from $133.00 to $132.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 1st. StockNews.com upgraded SiteOne Landscape Supply from a "sell" rating to a "hold" rating in a research report on Thursday. Finally, Stifel Nicolaus cut SiteOne Landscape Supply from a "buy" rating to a "hold" rating and set a $150.00 price target for the company. in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $147.80.

SiteOne Landscape Supply Price Performance

Shares of SITE traded down $0.61 during trading hours on Friday, hitting $151.93. 272,676 shares of the stock were exchanged, compared to its average volume of 388,625. The stock's 50-day moving average price is $144.23 and its two-hundred day moving average price is $141.26. SiteOne Landscape Supply, Inc. has a 12-month low of $114.60 and a 12-month 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 market cap of $6.86 billion, a price-to-earnings ratio of 49.17 and a beta of 1.53.

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

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.