Headlands Technologies LLC Grows Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Headlands Technologies LLC boosted its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 42.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,571 shares of the company's stock after purchasing an additional 10,528 shares during the period. Headlands Technologies LLC owned approximately 0.06% of Beacon Roofing Supply worth $3,613,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Beacon Roofing Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock valued at $661,235,000 after acquiring an additional 24,027 shares during the last quarter. Boston Partners increased its position in shares of Beacon Roofing Supply by 1.3% during the 4th quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after purchasing an additional 59,630 shares during the last quarter. State Street Corp lifted its stake in shares of Beacon Roofing Supply by 1.1% in the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company's stock worth $127,182,000 after purchasing an additional 15,505 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Beacon Roofing Supply by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company's stock worth $103,011,000 after buying an additional 20,372 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Beacon Roofing Supply by 2.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company's stock valued at $100,076,000 after buying an additional 22,122 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have weighed in on BECN. Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and increased their price target for the stock from $124.00 to $124.35 in a research report on Wednesday. Baird R W cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. StockNews.com started coverage on Beacon Roofing Supply in a report on Wednesday. They set a "sell" rating for the company. Loop Capital reaffirmed a "hold" rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Finally, Raymond James downgraded Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $122.10.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock traded down $1.21 on Friday, hitting $122.43. 7,914,184 shares of the company traded hands, compared to its average volume of 1,051,952. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $123.90. The business has a 50-day simple moving average of $119.17 and a 200 day simple moving average of $107.31. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The stock has a market capitalization of $7.56 billion, a P/E ratio of 20.93 and a beta of 1.31.

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

About Beacon Roofing Supply

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.