Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Purchased by Boston Partners

Boston Partners boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,531,106 shares of the company’s stock after acquiring an additional 59,630 shares during the period. Boston Partners owned 7.32% of Beacon Roofing Supply worth $462,417,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. Quarry LP raised its position in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Beacon Roofing Supply in the third quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its position in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 shares during the period. Finally, Principal Securities Inc. raised its position in Beacon Roofing Supply by 16.5% in the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after purchasing an additional 196 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $119.90 on Tuesday. The firm has a market capitalization of $7.38 billion, a PE ratio of 20.50 and a beta of 1.63. The business’s fifty day moving average price is $115.41 and its 200 day moving average price is $103.53. 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, Inc. has a 12 month low of $77.54 and a 12 month high of $122.97.

Beacon Roofing Supply (NASDAQ:BECN) last posted 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 during the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com assumed coverage on Beacon Roofing Supply in a research report on Monday. They issued a “sell” rating on the stock. Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their target price for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Stephens reissued an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird upped their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of “Hold” and an average price target of $119.95.

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.