Teacher Retirement System of Texas Purchases 20,247 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Teacher Retirement System of Texas increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 556.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,888 shares of the company's stock after purchasing an additional 20,247 shares during the quarter. Teacher Retirement System of Texas' holdings in Beacon Roofing Supply were worth $2,427,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BECN. FMR LLC boosted its stake 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 worth $556,253,000 after buying an additional 963,633 shares during the last quarter. Janus Henderson Group PLC raised its holdings 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 in the last quarter. 140 Summer Partners LP bought a new stake in Beacon Roofing Supply during the third quarter worth about $29,343,000. Raymond James Financial Inc. acquired a new position in Beacon Roofing Supply during the fourth quarter valued at approximately $24,162,000. Finally, Spruce House Investment Management LLC grew its stake in Beacon Roofing Supply by 97.1% in the third quarter. Spruce House Investment Management LLC now owns 203,000 shares of the company's stock valued at $17,545,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on BECN. Loop Capital reissued a "hold" rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. Baird R W cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating 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 decreased their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Benchmark reaffirmed a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Finally, Zelman & Associates cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $120.95.

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Beacon Roofing Supply Stock Performance

Shares of BECN stock traded down $0.04 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. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $123.90. The company has a market capitalization of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63. The stock's 50 day moving average is $118.50 and its 200-day moving average is $106.05. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $2.40 billion for 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%. Equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal 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.