Natixis Advisors LLC Cuts Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Natixis Advisors LLC trimmed its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,554 shares of the company's stock after selling 3,814 shares during the quarter. Natixis Advisors LLC owned 0.34% of Beacon Roofing Supply worth $21,388,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Quarry LP grew its holdings in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Beacon Roofing Supply during the third quarter worth $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at $31,000. PNC Financial Services Group Inc. boosted its holdings in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after purchasing an additional 163 shares during the period. Finally, Principal Securities Inc. boosted its holdings in Beacon Roofing Supply by 16.5% in the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after purchasing an additional 196 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Monday. They issued a "sell" rating on the stock. BMO Capital Markets lowered their target price on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Zelman & Associates lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Finally, Stifel Nicolaus cut Beacon Roofing Supply from a "buy" rating to a "hold" rating and decreased their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $120.95.

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Beacon Roofing Supply Stock Performance

Shares of BECN traded down $0.06 during mid-day trading on Friday, reaching $123.77. 11,309,325 shares of the company's stock were exchanged, compared to its average volume of 873,721. The business's fifty day simple moving average is $116.92 and its 200-day simple moving average is $104.23. The stock has a market capitalization of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $123.90. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Beacon Roofing Supply Company 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.