59 North Capital Management Sells Shares of SiteOne Landscape Supply
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 03 2026
0mins
Should l Buy SITE?
Source: Fool
SiteOne Landscape Supply Inc. experienced a price drop of 3.43% as it hit a 20-day low amid broader market declines, with the Nasdaq-100 down 1.40% and the S&P 500 down 1.29%.
The decline in SiteOne's stock price follows the announcement that 59 North Capital Management sold 208,619 shares valued at approximately $26.41 million, reflecting a risk management strategy amid market volatility. Despite this, SiteOne reported a 4% increase in net sales to $4.7 billion for fiscal year 2025, with net income rising 23% to $151.8 million, indicating strong financial performance and future growth expectations.
The sale by 59 North Capital Management may have contributed to the stock's downward movement, but SiteOne's solid financial results and management's expectations for organic growth suggest a stable outlook for long-term investors.
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Analyst Views on SITE
Wall Street analysts forecast SITE stock price to rise
6 Analyst Rating
3 Buy
3 Hold
0 Sell
Moderate Buy
Current: 124.990
Low
134.00
Averages
141.50
High
151.00
Current: 124.990
Low
134.00
Averages
141.50
High
151.00
About SITE
SiteOne Landscape Supply, Inc. is a full product line wholesale distributor of landscape supplies in the United States and has a presence in Canada. Its customers are primarily residential and commercial landscape professionals who specialize in the design, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces. It has over 670 branch locations in 45 United States and five Canadian provinces. Through its North American network, it offers a comprehensive selection of approximately 180,000 stock keeping units (SKUs) including hardscapes (such as pavers, natural stone, and blocks), irrigation supplies, fertilizer and control products (herbicides), landscape accessories, nursery goods, outdoor lighting, and ice melt products. The Company also owns Reinders, distributor of irrigation, agronomics, holiday and landscape lighting, and landscape supplies with 12 locations across Wisconsin, Michigan, Illinois, Indiana, Kansas and Minnesota.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Performance Growth: SiteOne reported Q1 2026 net sales of $940 million, slightly up from last year despite challenges from adverse weather and market softness, with a 14% adjusted EBITDA growth indicating effective management in cost control and gross margin expansion.
- Acquisition Impact: The acquisition of Reinders, a leading player in the Midwest, enhances SiteOne's capabilities in irrigation and agronomics, expected to support future growth, although management cautioned that macroeconomic uncertainty may impact overall market demand.
- Market Outlook: Management anticipates low single-digit growth in organic daily sales for 2026, primarily driven by a 2% to 3% increase in pricing, while the new residential construction market, which comprises 20% of sales, is expected to decline, putting pressure on overall sales.
- Financial Position: The company reported a net loss of $26.6 million for Q1 and cash used in operating activities of $122 million, yet maintains liquidity of $502 million, demonstrating financial flexibility amid uncertain market conditions.
See More
SiteOne (SITE) Q1 2026 Earnings Call Transcript
See More
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- Revenue Expectations: The anticipated revenue for Q1 is $982.27 million, representing a 4.6% year-over-year increase, which highlights the company's stable growth in the landscape supply market despite economic headwinds.
- Estimate Revision Dynamics: Over the past three months, EPS estimates have seen four upward and four downward revisions, while revenue estimates have experienced eight upward and two downward adjustments, indicating analyst divergence and market uncertainty regarding the company's future performance.
- Future Outlook: SiteOne expects adjusted EBITDA to range between $425 million and $455 million in 2026, suggesting confidence in driving growth through positive pricing strategies and cost management measures, which could enhance future profitability.
See More
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