Cibc World Markets Corp Invests $589,000 in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Cibc World Markets Corp acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,802 shares of the company's stock, valued at approximately $589,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BECN. FMR LLC raised its position in shares of Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company's stock valued at $556,253,000 after acquiring an additional 963,633 shares in the last quarter. State Street Corp lifted its position 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 buying an additional 15,505 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Beacon Roofing Supply by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company's stock valued at $103,011,000 after buying an additional 20,372 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Beacon Roofing Supply by 2.3% during the 4th 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 last quarter. Finally, Janus Henderson Group PLC raised its stake in Beacon Roofing Supply by 1,449.0% during the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company's stock worth $53,205,000 after acquiring an additional 575,852 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have recently commented on BECN shares. William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Zelman & Associates lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a report on Tuesday. 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 report on Friday, March 21st. Finally, Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and reduced their target price for the company from $131.00 to $122.55 in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's 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 Price Performance

NASDAQ BECN traded up $0.04 on Wednesday, reaching $123.84. 1,948,986 shares of the stock traded hands, compared to its average volume of 900,792. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month 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 firm's fifty day simple moving average is $118.02 and its 200 day simple moving average is $105.31. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 21.17 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal 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.