Oppenheimer Asset Management Inc. Decreases Stock Position in SiteOne Landscape Supply, Inc. $SITE

Oppenheimer Asset Management Inc. cut its holdings in SiteOne Landscape Supply, Inc. (NYSE:SITE) by 4.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,520 shares of the industrial products company’s stock after selling 1,891 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.09% of SiteOne Landscape Supply worth $4,900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. purchased a new stake in SiteOne Landscape Supply in the first quarter valued at about $25,000. Brooklyn Investment Group purchased a new position in shares of SiteOne Landscape Supply in the first quarter worth about $32,000. Golden State Wealth Management LLC raised its stake in shares of SiteOne Landscape Supply by 106.1% in the first quarter. Golden State Wealth Management LLC now owns 270 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 139 shares during the last quarter. Eastern Bank purchased a new position in shares of SiteOne Landscape Supply in the first quarter worth about $38,000. Finally, NewEdge Advisors LLC raised its stake in shares of SiteOne Landscape Supply by 36.6% in the first quarter. NewEdge Advisors LLC now owns 399 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 107 shares during the last quarter.

SiteOne Landscape Supply Stock Down 0.6%

SiteOne Landscape Supply stock opened at $123.73 on Wednesday. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 45.16, a price-to-earnings-growth ratio of 2.30 and a beta of 1.59. SiteOne Landscape Supply, Inc. has a 52 week low of $101.25 and a 52 week high of $160.74. The business’s 50-day moving average price is $132.99 and its 200 day moving average price is $127.12. The company has a quick ratio of 1.06, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.03). SiteOne Landscape Supply had a return on equity of 7.80% and a net margin of 2.69%.The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned $2.63 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SITE shares. Zacks Research cut SiteOne Landscape Supply from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Royal Bank Of Canada raised their price objective on SiteOne Landscape Supply from $130.00 to $143.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Wall Street Zen upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. The Goldman Sachs Group reduced their price objective on SiteOne Landscape Supply from $158.00 to $138.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $148.50.

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.