Long Position on SITE @ $82.00 on 4/28/2020 (Momentum)

SiteOne Landscape Supply, Inc. (SITE) engages in the wholesale distribution of landscape supplies in the United States and Canada.

The company provides a selection of approximately 120,000 stock keeping units, including irrigation supplies, which consists controllers, valves, sprinkler heads, and irrigation and drainage pipes; fertilizers, grass seed, and ice melt products; control products, which include herbicides, fungicides, rodenticides, and other pesticides; landscape accessories, which comprise mulches, soil amendments, tools, and sod; nursery goods, which consist of deciduous shrubs, evergreen shrubs and trees, ornamental trees, shade trees, both field grown and container-grown nursery stock, and plant species; and outdoor lightings, which include accent lights, dark lights, path lights, up lights, down lights, wall lights, and pool and aquatic area lighting, as well as hardscapes, such as pavers, natural stones, blocks, and other durable materials. It also offers consultative services consisting of assistance with irrigation network design, commercial project planning, generation of sales leads, marketing services and product support, and a series of technical and business management seminars; and distributes branded products of third parties.

As of December 29, 2019, the company had 550 branches in the 45 United States and six Canadian provinces. It offers its products under LESCO, SiteOne Green Tech, and Pro-Trade brand names.

The company markets its products primarily to residential and commercial landscape professionals who specialize in the design, installation, and maintenance of lawns, gardens, golf courses, and other outdoor spaces through branch network and direct distribution. 

Siteone Landscape Supply reported Quarter December 2019 earnings of $0.06 per share on revenue of $535.0 million. The consensus estimate was a loss of $0.02 per share on revenue of $528.6 million. Revenue grew 12.7% on a year-over-year basis.

This stock reports earnings on Wednesday April 29th at 6:00 AM EST.

With the US slowly opening up businesses and planting season underway, this stock should see a strong earnings report.

Entry point: $82.00

52-week trade range: $53.29 - $119.42

Stop/Loss: $77.90

Target Price: $90.20

Updates

4/29/2020 12:59:59 PM

SITE closed at $98.10

Position closed on 4/29/2020 at price of $98.10 with a 19.63% gain in 1 days.

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