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

Boston Partners lifted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,531,106 shares of the company’s stock after buying an additional 59,630 shares during the quarter. Boston Partners owned approximately 0.07% of Beacon Roofing Supply worth $462,417,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. FMR LLC boosted its stake in shares of Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after buying an additional 963,633 shares during the period. State Street Corp boosted its stake in shares of Beacon Roofing Supply by 1.1% during the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after buying an additional 15,505 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Beacon Roofing Supply by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock worth $103,011,000 after buying an additional 20,372 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Beacon Roofing Supply by 2.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company’s stock worth $100,076,000 after buying an additional 22,122 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Beacon Roofing Supply by 1,449.0% during the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after buying an additional 575,852 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Trading Up 1.3 %

Shares of Beacon Roofing Supply stock opened at $119.90 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company has a 50-day moving average of $115.41 and a two-hundred day moving average of $103.53. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $122.97. The stock has a market cap of $7.38 billion, a PE ratio of 20.50 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.43 billion. On average, research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BECN has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Stephens restated an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Hold” and an average target price 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.