Chicago Partners Investment Group LLC Acquires New Holdings in SiteOne Landscape Supply, Inc. $SITE

Chicago Partners Investment Group LLC bought a new position in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) in the third quarter, HoldingsChannel reports. The firm bought 8,271 shares of the industrial products company’s stock, valued at approximately $853,000.

Several other hedge funds have also recently bought and sold shares of SITE. Squarepoint Ops LLC acquired a new stake in shares of SiteOne Landscape Supply during the second quarter worth $6,977,000. Legal & General Group Plc bought a new stake in SiteOne Landscape Supply in the 2nd quarter valued at $4,281,000. Oppenheimer Asset Management Inc. acquired a new position in SiteOne Landscape Supply in the 2nd quarter worth $3,059,000. The Manufacturers Life Insurance Company acquired a new position in SiteOne Landscape Supply in the 2nd quarter worth $1,513,000. Finally, Public Employees Retirement System of Ohio acquired a new position in SiteOne Landscape Supply in the 2nd quarter worth $1,503,000.

SiteOne Landscape Supply Trading Down 1.0%

SiteOne Landscape Supply stock opened at $116.21 on Wednesday. The firm has a 50-day moving average of $97.25 and a 200-day moving average of $115.46. SiteOne Landscape Supply, Inc. has a one year low of $82.00 and a one year high of $168.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.41 and a quick ratio of 1.03. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 1.83 and a beta of 1.29.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.46 earnings per share for the quarter, meeting the consensus estimate of $1.46. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. SiteOne Landscape Supply had a return on equity of 10.06% and a net margin of 3.49%. SiteOne Landscape Supply’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. On average, equities analysts expect that SiteOne Landscape Supply, Inc. will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Doug Black purchased 9,100 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was purchased at an average cost of $110.30 per share, for a total transaction of $1,003,730.00. Following the completion of the purchase, the chief executive officer directly owned 18,141 shares in the company, valued at $2,000,952.30. This trade represents a 100.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SITE shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $114.00 price target on shares of SiteOne Landscape Supply in a research note on Wednesday, October 28th. UBS Group increased their price objective on SiteOne Landscape Supply from $110.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Barclays dropped their target price on SiteOne Landscape Supply from $129.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings cut SiteOne Landscape Supply from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded SiteOne Landscape Supply from a “buy” rating to a “hold” rating and reduced their price target for the stock from $127.00 to $91.00 in a research report on Thursday, October 8th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.00.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply is a wholesale distributor of products and services for the landscape, irrigation, and outdoor living industries. Its customers include landscape contractors, irrigation professionals, lawn-care businesses, and other green-industry professionals. The company offers a broad range of supplies, including irrigation and drainage products, nursery goods, fertilizer and other agronomic products, hardscape materials, outdoor lighting, tools, and snow and ice management products.