Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 540,703 shares of the company’s stock after buying an additional 398 shares during the period. Franklin Resources Inc. owned 0.87% of Beacon Roofing Supply worth $54,925,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Quarry LP raised its holdings 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 buying an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter worth $31,000. PNC Financial Services Group Inc. raised its stake in shares of Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after acquiring an additional 163 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after acquiring an additional 150 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in Beacon Roofing Supply by 16.5% during the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after purchasing an additional 196 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock opened at $122.43 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $123.90. The firm’s 50-day simple moving average is $119.17 and its 200-day simple moving average is $107.31. The firm has a market cap of $7.56 billion, a PE ratio of 20.93 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research report on Wednesday. They set a “sell” rating on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $122.10.

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.