Norges Bank acquired a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 931,024 shares of the company's stock, valued at approximately $94,573,000. Norges Bank owned 1.50% of Beacon Roofing Supply at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP boosted 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 buying an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply in the 4th quarter worth $31,000. PNC Financial Services Group Inc. boosted its stake 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 period. Principal Securities Inc. increased 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 purchasing an additional 196 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $152,000. 98.45% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
BECN has been the subject of several recent research reports. Robert W. Baird upped their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Stifel Nicolaus downgraded Beacon Roofing Supply from a "buy" rating to a "hold" rating and reduced their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Raymond James downgraded shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a report on Friday, March 21st. BMO Capital Markets reduced 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 report on Tuesday, March 4th. Finally, Baird R W lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $122.10.
View Our Latest Stock Analysis on Beacon Roofing Supply
Beacon Roofing Supply Stock Performance
NASDAQ:BECN traded down $1.21 during mid-day trading on Friday, hitting $122.43. The stock had a trading volume of 7,914,184 shares, compared to its average volume of 1,051,952. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $123.90. 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 cap of $7.56 billion, a price-to-earnings ratio of 20.93 and a beta of 1.31. The company's 50 day simple moving average is $119.17 and its 200 day simple moving average is $107.61.
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 (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.
Beacon Roofing Supply Company Profile
(
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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