Advantage Alpha Capital Partners LP Has $6.70 Million Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Advantage Alpha Capital Partners LP lifted its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 180.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,949 shares of the company's stock after purchasing an additional 42,408 shares during the quarter. Beacon Roofing Supply accounts for 1.6% of Advantage Alpha Capital Partners LP's portfolio, making the stock its 18th largest position. Advantage Alpha Capital Partners LP owned about 0.11% of Beacon Roofing Supply worth $6,699,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BECN. Quarry LP lifted its holdings in Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Beacon Roofing Supply during the third quarter worth approximately $28,000. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after acquiring an additional 163 shares in the last quarter. Finally, Principal Securities Inc. grew its position in Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock worth $140,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

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Analyst Ratings Changes

Several brokerages have issued reports on BECN. Stifel Nicolaus downgraded Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. StockNews.com began coverage on Beacon Roofing Supply in a report on Tuesday. They issued a "sell" rating for the company. Raymond James cut shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Finally, William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

Shares of NASDAQ:BECN traded down $0.04 during midday trading on Friday, reaching $123.82. 4,139,511 shares of the company were exchanged, compared to its average volume of 949,958. The firm has a market cap of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $123.90. The stock has a fifty day simple moving average of $118.50 and a two-hundred day simple moving average of $105.87. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. As a group, sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.