LPL Financial LLC bought a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,332 shares of the company’s stock, valued at approximately $595,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BECN. New York State Common Retirement Fund raised its holdings in Beacon Roofing Supply by 0.8% during the third quarter. New York State Common Retirement Fund now owns 206,857 shares of the company’s stock worth $10,601,000 after acquiring an additional 1,560 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Beacon Roofing Supply by 95.4% during the third quarter. Ameriprise Financial Inc. now owns 110,942 shares of the company’s stock worth $5,686,000 after acquiring an additional 54,179 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Beacon Roofing Supply by 23.4% during the third quarter. Great West Life Assurance Co. Can now owns 7,017 shares of the company’s stock worth $360,000 after acquiring an additional 1,330 shares in the last quarter. Legal & General Group Plc raised its stake in Beacon Roofing Supply by 16.2% in the third quarter. Legal & General Group Plc now owns 49,217 shares of the company’s stock valued at $2,523,000 after buying an additional 6,879 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Beacon Roofing Supply by 61.5% in the third quarter. JPMorgan Chase & Co. now owns 18,413 shares of the company’s stock valued at $946,000 after buying an additional 7,015 shares during the period.
NASDAQ:BECN opened at $52.05 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.58 and a current ratio of 4.60. The company has a market capitalization of $3,459.73, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 0.44 and a beta of 1.38. Beacon Roofing Supply, Inc. has a 12-month low of $39.57 and a 12-month high of $66.47.
Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, February 8th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.54 by $0.14. Beacon Roofing Supply had a return on equity of 9.60% and a net margin of 3.29%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. equities research analysts predict that Beacon Roofing Supply, Inc. will post 3.56 EPS for the current fiscal year.
BECN has been the topic of several research analyst reports. Zacks Investment Research lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 10th. BidaskClub lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Jefferies Group restated a “buy” rating and issued a $73.00 price objective on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. Royal Bank of Canada set a $66.00 price objective on Beacon Roofing Supply and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Citigroup dropped their price objective on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $62.00.
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Beacon Roofing Supply Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.
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