Raymond James & Associates Sells 8,361 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)
Raymond James & Associates reduced its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 36.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,300 shares of the company’s stock after selling 8,361 shares during the quarter. Raymond James & Associates’ holdings in Beacon Roofing Supply were worth $782,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC lifted its position in shares of Beacon Roofing Supply by 1.6% during the 2nd quarter. FMR LLC now owns 10,311,211 shares of the company’s stock worth $529,583,000 after buying an additional 160,181 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Beacon Roofing Supply by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after acquiring an additional 106,890 shares during the last quarter. State Street Corp lifted its stake in shares of Beacon Roofing Supply by 3.5% in the 1st quarter. State Street Corp now owns 1,132,944 shares of the company’s stock valued at $67,161,000 after acquiring an additional 37,862 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Beacon Roofing Supply by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 622,837 shares of the company’s stock worth $36,922,000 after purchasing an additional 23,163 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Beacon Roofing Supply by 2.8% during the first quarter. Invesco Ltd. now owns 574,196 shares of the company’s stock worth $34,038,000 after purchasing an additional 15,807 shares during the last quarter.
Analyst Ratings Changes
Several research firms have recently weighed in on BECN. Stifel Nicolaus boosted their price target on Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, December 19th. Deutsche Bank Aktiengesellschaft lifted their target price on Beacon Roofing Supply from $79.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, January 10th. StockNews.com began coverage on Beacon Roofing Supply in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Royal Bank of Canada cut their price objective on Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Monday, November 7th. Finally, Robert W. Baird lowered their price target on shares of Beacon Roofing Supply from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, January 24th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.63.
Beacon Roofing Supply Stock Performance
NASDAQ:BECN opened at $55.10 on Monday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 10.13 and a beta of 1.60. The company has a fifty day moving average of $55.52 and a 200-day moving average of $56.30. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply, Inc. has a twelve month low of $45.71 and a twelve month high of $65.30.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.15. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Beacon Roofing Supply had a net margin of 5.52% and a return on equity of 31.40%. As a group, sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.05 EPS for the current year.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
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