Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 31.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,135 shares of the company's stock after selling 3,244 shares during the quarter. Vontobel Holding Ltd.'s holdings in Beacon Roofing Supply were worth $725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company's stock worth $28,000 after purchasing an additional 211 shares in the last quarter. Quarry LP lifted its stake in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply in the 3rd quarter valued at about $28,000. Huntington National Bank lifted its stake in shares of Beacon Roofing Supply by 14.1% in the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company's stock valued at $144,000 after acquiring an additional 206 shares during the last quarter. Finally, KBC Group NV raised its position in Beacon Roofing Supply by 20.8% during the 3rd quarter. KBC Group NV now owns 1,728 shares of the company's stock valued at $149,000 after purchasing an additional 297 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an "outperform" rating in a report on Thursday, January 16th. Zelman & Associates lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Stephens reissued an "equal weight" rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an "overweight" rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $120.17.

Beacon Roofing Supply Stock Performance

BECN traded down $2.75 on Friday, reaching $116.82. The company had a trading volume of 496,365 shares, compared to its average volume of 982,142. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $121.42. The stock has a market capitalization of $7.19 billion, a PE ratio of 19.98 and a beta of 1.62. 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 stock has a 50-day moving average price of $111.09 and a 200-day moving average price of $100.00.

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.