Manatuck Hill Partners LLC Sells 15,700 Shares of SiteOne Landscape Supply, Inc. (SITE)
Manatuck Hill Partners LLC lessened its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 11.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,000 shares of the industrial products company’s stock after selling 15,700 shares during the quarter. SiteOne Landscape Supply comprises about 3.2% of Manatuck Hill Partners LLC’s investment portfolio, making the stock its 7th biggest holding. Manatuck Hill Partners LLC owned 0.31% of SiteOne Landscape Supply worth $6,351,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. bought a new stake in SiteOne Landscape Supply during the second quarter worth approximately $211,293,000. FMR LLC lifted its position in SiteOne Landscape Supply by 288.4% in the second quarter. FMR LLC now owns 2,017,984 shares of the industrial products company’s stock worth $105,056,000 after purchasing an additional 1,498,436 shares during the period. BlackRock Inc. lifted its position in SiteOne Landscape Supply by 126.1% in the second quarter. BlackRock Inc. now owns 2,013,656 shares of the industrial products company’s stock worth $104,833,000 after purchasing an additional 1,123,148 shares during the period. Alliancebernstein L.P. boosted its stake in SiteOne Landscape Supply by 224.3% during the 2nd quarter. Alliancebernstein L.P. now owns 1,459,460 shares of the industrial products company’s stock valued at $75,979,000 after purchasing an additional 1,009,392 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in SiteOne Landscape Supply by 58.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,618,729 shares of the industrial products company’s stock valued at $136,330,000 after purchasing an additional 965,336 shares in the last quarter.
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Several brokerages have recently issued reports on SITE. Royal Bank Of Canada reiterated a “buy” rating and set a $63.00 price target on shares of SiteOne Landscape Supply in a research report on Friday, August 11th. BidaskClub raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Deutsche Bank AG restated a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of SiteOne Landscape Supply in a report on Thursday, August 10th. Finally, Zacks Investment Research cut SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. SiteOne Landscape Supply has an average rating of “Buy” and a consensus price target of $54.50.
Shares of SiteOne Landscape Supply, Inc. (SITE) traded up 1.15% during trading on Monday, hitting $58.77. 47,144 shares of the stock traded hands. The company has a market cap of $2.34 billion, a PE ratio of 54.93 and a beta of 2.23. The company has a 50 day moving average of $51.21 and a 200-day moving average of $49.76. SiteOne Landscape Supply, Inc. has a 1-year low of $26.60 and a 1-year high of $58.89.
SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). The firm had revenue of $608.60 million during the quarter, compared to the consensus estimate of $607.94 million. SiteOne Landscape Supply had a net margin of 2.46% and a return on equity of 27.37%. SiteOne Landscape Supply’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($3.18) EPS. On average, equities analysts anticipate that SiteOne Landscape Supply, Inc. will post $1.31 EPS for the current fiscal year.
SiteOne Landscape Supply Profile
SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.
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