Intech Investment Management LLC increased its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 43.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 23,893 shares of the company's stock after purchasing an additional 7,224 shares during the quarter. Intech Investment Management LLC's holdings in Beacon Roofing Supply were worth $2,427,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of BECN. Quarry LP raised its stake 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 acquiring an additional 197 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Beacon Roofing Supply during the 3rd quarter valued at about $28,000. SBI Securities Co. Ltd. purchased a new stake in Beacon Roofing Supply in the 4th quarter worth about $31,000. PNC Financial Services Group Inc. lifted its stake 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 worth $60,000 after purchasing an additional 163 shares during the last quarter. Finally, Principal Securities Inc. boosted its position in shares of Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.
Beacon Roofing Supply Stock Down 0.0 %
BECN stock traded down $0.02 during trading on Tuesday, hitting $123.80. 2,673,640 shares of the company's stock traded hands, compared to its average volume of 889,623. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $123.90. The business has a fifty day simple moving average of $117.72 and a two-hundred day simple moving average of $105.01. The firm has a market capitalization of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63. 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 issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.
Analyst Upgrades and Downgrades
BECN has been the subject of a number of research analyst reports. Benchmark reissued a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. BMO Capital Markets decreased their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Baird R W downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Finally, William Blair reissued 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, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $120.95.
Check Out Our Latest Stock Report on Beacon Roofing Supply
Beacon Roofing Supply Company Profile
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Free Report)
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.
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