Prudential Financial Inc. Buys 4,294 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Prudential Financial Inc. increased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,909 shares of the company's stock after acquiring an additional 4,294 shares during the period. Prudential Financial Inc. owned about 0.06% of Beacon Roofing Supply worth $3,447,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. 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 worth $26,000 after purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Beacon Roofing Supply in the 4th quarter valued at $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 valued at $60,000 after buying an additional 163 shares during the last quarter. Principal Securities Inc. lifted its stake in Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after acquiring an additional 196 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Beacon Roofing Supply during the 4th quarter worth $152,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Analysts Set New Price Targets

BECN has been the subject of several analyst reports. Baird R W downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. Benchmark restated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Robert W. Baird increased their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Stifel Nicolaus lowered Beacon Roofing Supply from a "buy" rating to a "hold" rating and dropped their price target for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Finally, Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $122.10.

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Beacon Roofing Supply Price Performance

NASDAQ:BECN traded down $1.21 during mid-day trading on Friday, hitting $122.43. 7,914,184 shares of the stock traded hands, compared to its average volume of 1,051,952. 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 company has a market cap of $7.56 billion, a PE ratio of 20.93 and a beta of 1.31. The business's 50-day moving average price is $119.17 and its 200 day moving average price is $107.61.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly earnings results 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). The firm 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%. On average, analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

About Beacon Roofing Supply

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.