Boothbay Fund Management LLC Makes New $8.60 Million Investment in SiteOne Landscape Supply, Inc. $SITE

Boothbay Fund Management LLC purchased a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 66,798 shares of the industrial products company’s stock, valued at approximately $8,604,000. Boothbay Fund Management LLC owned about 0.15% of SiteOne Landscape Supply as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Aquatic Capital Management LLC purchased a new stake in SiteOne Landscape Supply during the 3rd quarter worth approximately $2,645,000. 59 North Capital Management LP purchased a new position in shares of SiteOne Landscape Supply in the third quarter worth $214,417,000. Algert Global LLC raised its holdings in shares of SiteOne Landscape Supply by 7.5% in the third quarter. Algert Global LLC now owns 17,818 shares of the industrial products company’s stock worth $2,295,000 after buying an additional 1,240 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of SiteOne Landscape Supply by 1.8% during the third quarter. Alliancebernstein L.P. now owns 29,204 shares of the industrial products company’s stock worth $3,761,000 after buying an additional 524 shares during the period. Finally, Creative Planning lifted its stake in shares of SiteOne Landscape Supply by 19.3% during the third quarter. Creative Planning now owns 3,742 shares of the industrial products company’s stock worth $482,000 after buying an additional 606 shares during the period.

SiteOne Landscape Supply Stock Down 0.2%

SiteOne Landscape Supply stock opened at $130.06 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 1.20. The stock has a market capitalization of $5.78 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.59. The business has a 50 day simple moving average of $144.33 and a 200-day simple moving average of $134.98. SiteOne Landscape Supply, Inc. has a 12 month low of $101.25 and a 12 month high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, February 11th. The industrial products company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.09. SiteOne Landscape Supply had a return on equity of 9.28% and a net margin of 3.23%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted ($0.48) EPS. The business’s revenue was up 3.2% on a year-over-year basis. On average, analysts anticipate that SiteOne Landscape Supply, Inc. will post 3.61 EPS for the current fiscal year.

Insider Transactions at SiteOne Landscape Supply

In other SiteOne Landscape Supply news, EVP Eric J. Elema sold 1,765 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $158.01, for a total transaction of $278,887.65. Following the transaction, the executive vice president directly owned 2,911 shares of the company’s stock, valued at $459,967.11. This trade represents a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SITE has been the topic of several research reports. Barclays upped their target price on SiteOne Landscape Supply from $134.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Stifel Nicolaus set a $144.00 price target on SiteOne Landscape Supply in a research report on Monday, February 9th. Truist Financial increased their price objective on SiteOne Landscape Supply from $165.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Robert W. Baird set a $190.00 price objective on SiteOne Landscape Supply in a research note on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SiteOne Landscape Supply in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, SiteOne Landscape Supply has a consensus rating of “Hold” and a consensus price target of $159.44.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.