Pier Capital LLC Boosts Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Pier Capital LLC boosted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 3.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 90,954 shares of the company's stock after buying an additional 2,691 shares during the period. Beacon Roofing Supply makes up approximately 1.3% of Pier Capital LLC's holdings, making the stock its 26th largest holding. Pier Capital LLC owned approximately 0.15% of Beacon Roofing Supply worth $9,239,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Prudential Financial Inc. raised its stake in shares of Beacon Roofing Supply by 14.0% in the fourth quarter. Prudential Financial Inc. now owns 34,909 shares of the company's stock valued at $3,447,000 after acquiring an additional 4,294 shares during the period. Advantage Alpha Capital Partners LP grew its holdings in Beacon Roofing Supply by 180.1% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 65,949 shares of the company's stock valued at $6,699,000 after purchasing an additional 42,408 shares during the last quarter. Vanguard Group Inc. raised its position in Beacon Roofing Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock worth $661,235,000 after purchasing an additional 24,027 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Beacon Roofing Supply in the fourth quarter worth about $1,300,000. Finally, Sei Investments Co. lifted its stake in Beacon Roofing Supply by 1.1% in the fourth quarter. Sei Investments Co. now owns 316,121 shares of the company's stock worth $32,112,000 after purchasing an additional 3,469 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BECN. StockNews.com assumed coverage on Beacon Roofing Supply in a report on Tuesday. They issued a "sell" rating on the stock. Zelman & Associates lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. William Blair reissued a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Stifel Nicolaus downgraded shares of 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 note on Friday, February 7th. Finally, Benchmark reissued a "buy" rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of "Hold" and an average target price of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

Shares of NASDAQ:BECN traded down $0.04 during trading hours on Friday, hitting $123.82. The company's stock had a trading volume of 4,139,511 shares, compared to its average volume of 949,958. The firm's fifty day moving average price is $118.50 and its 200 day moving average price is $106.05. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $123.90. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 21.17 and a beta of 1.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 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 the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. As a group, research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current 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.