Blue Grotto Capital LLC Purchases Shares of 233,572 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Blue Grotto Capital LLC acquired a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 233,572 shares of the company’s stock, valued at approximately $23,726,000. Beacon Roofing Supply makes up 4.3% of Blue Grotto Capital LLC’s investment portfolio, making the stock its 10th largest holding. Blue Grotto Capital LLC owned 0.38% of Beacon Roofing Supply at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Pier Capital LLC lifted its position in shares of Beacon Roofing Supply by 3.0% in the fourth quarter. Pier Capital LLC now owns 90,954 shares of the company’s stock valued at $9,239,000 after buying an additional 2,691 shares during the last quarter. Prudential Financial Inc. boosted its position in Beacon Roofing Supply by 14.0% during the fourth quarter. Prudential Financial Inc. now owns 34,909 shares of the company’s stock worth $3,447,000 after purchasing an additional 4,294 shares during the period. Advantage Alpha Capital Partners LP increased its holdings in shares of Beacon Roofing Supply by 180.1% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 65,949 shares of the company’s stock valued at $6,699,000 after purchasing an additional 42,408 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Beacon Roofing Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock valued at $661,235,000 after purchasing an additional 24,027 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Beacon Roofing Supply in the fourth quarter valued at about $1,300,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets dropped their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Benchmark restated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Finally, Robert W. Baird increased their target price on shares of 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

NASDAQ BECN opened at $123.80 on Wednesday. The business has a fifty day moving average price of $117.72 and a two-hundred day moving average price of $105.01. The stock has a market capitalization of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. 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 debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data 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). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Equities 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.