Vanguard Group Inc. Acquires 24,027 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Vanguard Group Inc. raised its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,509,495 shares of the company's stock after purchasing an additional 24,027 shares during the quarter. Vanguard Group Inc. owned 10.57% of Beacon Roofing Supply worth $661,235,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Boston Partners raised its position in Beacon Roofing Supply by 1.3% during the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after buying an additional 59,630 shares during the period. State Street Corp grew its stake in Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company's stock valued at $127,182,000 after acquiring an additional 15,505 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Beacon Roofing Supply by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company's stock valued at $103,011,000 after purchasing an additional 20,372 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Beacon Roofing Supply by 2.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company's stock worth $100,076,000 after purchasing an additional 22,122 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Beacon Roofing Supply by 1,449.0% in the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company's stock worth $53,205,000 after purchasing an additional 575,852 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have weighed in on BECN. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and dropped their price objective for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Zelman & Associates downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. BMO Capital Markets reduced their price objective 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. William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Finally, Benchmark reiterated a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Beacon Roofing Supply currently has an average rating of "Hold" and an average target price of $122.10.

Beacon Roofing Supply Stock Performance

BECN traded down $1.21 on Friday, hitting $122.43. The company had a trading volume of 7,914,184 shares, compared to its average volume of 1,049,501. 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 has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company's fifty day moving average price is $119.17 and its 200 day moving average price is $107.31. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $123.90.

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). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Equities analysts predict 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.