Blue Grotto Capital LLC Purchases Shares of 233,572 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Blue Grotto Capital LLC bought a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 233,572 shares of the company's stock, valued at approximately $23,726,000. Beacon Roofing Supply makes up approximately 4.3% of Blue Grotto Capital LLC's holdings, making the stock its 10th biggest holding. Blue Grotto Capital LLC owned approximately 0.38% of Beacon Roofing Supply at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quarry LP increased its position in Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply during the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. raised its position in 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 purchasing an additional 163 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings 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 buying an additional 196 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Zelman & Associates cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Raymond James lowered Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. BMO Capital Markets dropped their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Robert W. Baird raised their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Finally, William Blair reiterated a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $120.95.

Beacon Roofing Supply Trading Down 0.0 %

Beacon Roofing Supply stock traded down $0.04 during midday trading on Friday, hitting $123.82. 4,139,511 shares of the stock were exchanged, compared to its average volume of 949,958. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $123.90. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63. The company has a fifty day simple moving average of $118.50 and a two-hundred day simple moving average of $106.05.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released 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 net margin of 3.86% and a return on equity of 25.32%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal 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.