Synovus Financial Corp Boosts Stock Position in SiteOne Landscape Supply, Inc. (NYSE:SITE)

Synovus Financial Corp grew its holdings in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,954 shares of the industrial products company’s stock after purchasing an additional 209 shares during the quarter. Synovus Financial Corp’s holdings in SiteOne Landscape Supply were worth $295,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bamco Inc. NY increased its holdings in SiteOne Landscape Supply by 8.9% during the third quarter. Bamco Inc. NY now owns 1,580,342 shares of the industrial products company’s stock worth $238,489,000 after buying an additional 129,252 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of SiteOne Landscape Supply by 11.4% during the 3rd quarter. Wasatch Advisors LP now owns 1,577,651 shares of the industrial products company’s stock worth $238,083,000 after purchasing an additional 161,846 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of SiteOne Landscape Supply by 2.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,141,624 shares of the industrial products company’s stock worth $138,605,000 after purchasing an additional 28,265 shares during the period. Geode Capital Management LLC lifted its stake in SiteOne Landscape Supply by 0.5% in the third quarter. Geode Capital Management LLC now owns 717,975 shares of the industrial products company’s stock valued at $108,381,000 after purchasing an additional 3,434 shares during the last quarter. Finally, Geneva Capital Management LLC grew its holdings in SiteOne Landscape Supply by 1.5% during the third quarter. Geneva Capital Management LLC now owns 626,101 shares of the industrial products company’s stock valued at $94,485,000 after purchasing an additional 9,209 shares during the period.

SiteOne Landscape Supply Stock Performance

Shares of SITE opened at $135.41 on Thursday. SiteOne Landscape Supply, Inc. has a 12-month low of $114.60 and a 12-month high of $188.01. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.11 billion, a PE ratio of 43.82 and a beta of 1.54. The stock has a 50-day moving average price of $145.85 and a 200-day moving average price of $139.66.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.21). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. SiteOne Landscape Supply had a return on equity of 9.21% and a net margin of 3.16%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. As a group, equities analysts forecast that SiteOne Landscape Supply, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In other SiteOne Landscape Supply news, EVP Joseph Ketter sold 6,500 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $142.20, for a total transaction of $924,300.00. Following the completion of the sale, the executive vice president now owns 12,942 shares of the company’s stock, valued at $1,840,352.40. This represents a 33.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SITE shares. StockNews.com raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Barclays upped their price objective on shares of SiteOne Landscape Supply from $114.00 to $120.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. Jefferies Financial Group upgraded shares of SiteOne Landscape Supply from a “hold” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $175.00 in a research note on Friday, December 6th. The Goldman Sachs Group assumed coverage on shares of SiteOne Landscape Supply in a research note on Thursday, October 10th. They set a “neutral” rating and a $158.00 price target on the stock. Finally, Robert W. Baird lifted their price objective on shares of SiteOne Landscape Supply from $168.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $156.44.

About SiteOne Landscape Supply

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.