Natixis Advisors LP increased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 124.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,786 shares of the company after purchasing an additional 54,774 shares during the quarter. Natixis Advisors LP owned 0.15% of Beacon Roofing Supply of $5,215,000 as of the most recent filing with the Securities and Exchange Commission (SEC).
A number of other major investors have also increased or reduced their stakes in the company. Comerica Bank increased its stake in Beacon Roofing Supply by 3.4% in the fourth quarter. Comerica Bank now owns 57,977 shares of the company’s stock valued at $3,142,000 after purchasing an additional 1,927 shares last quarter. Waypoint Capital Advisors LLC acquired a new position in Beacon Roofing Supply stock valued at approximately $2,349,000 during the fourth quarter. Contravisory Investment Management Inc. increased its position in Beacon Roofing Supply by 13.0% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,384 shares of the company’s stock valued at $231,000 after purchasing an additional 506 shares last quarter. Captrust Financial Advisors increased its position in Beacon Roofing Supply by 447.0% during the third quarter. Captrust Financial Advisors now owns 115,719 shares of the company’s stock valued at $6,332,000 after purchasing an additional 94,563 shares last quarter. Finally, BNP Paribas Arbitrage SNC increased its position in Beacon Roofing Supply shares by 48.7% during the third quarter. BNP Paribas Arbitrage SNC now owns 23,771 shares of the company’s stock valued at $1,301,000 after purchasing an additional 7,780 shares last quarter.
Changes in analyst ratings
Several equity analysts recently rated the company. Zelman & Associates downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Friday, March 10. Robert W. Baird increased his price target on Beacon Roofing Supply to $76.00 from $65.00 and gave the company a neutral rating in a research report on Monday, February 27. StockNews.com ran a report on Beacon Roofing Supply on Thursday, March 16th. You give the company a “hold” rating. Stephens raised its price target for Beacon Roofing Supply from $65.00 to $73.00 and rated the company as “break even” in a report Monday, February 27. Finally, Deutsche Bank Aktiengesellschaft raised its target price on Beacon Roofing Supply to $85.00 from $81.00 and gave the company a buy rating in a report on Monday, February 27. One investment analyst has assigned a sell rating to the stock, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Beacon Roofing Supply currently has an average rating of Hold and an average target price of $70.57.
Beacon Roofing Supply price performance
Shares of BECN stock opened at $58.56 on Friday. Beacon Roofing Supply, Inc. has a 12-month low of $45.71 and a 12-month high of $68.31. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 10.53 and a beta of 1.57. The stock has a 50-day simple moving average of $60.00 and a 200-day simple moving average of $57.37. The company has a current ratio of 2.03, a quick ratio of 1.08 and a debt-to-equity ratio of 1.01.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last issued its earnings results on Thursday, February 23rd. The company reported earnings per share of $1.22 for the quarter, beating the consensus estimate of $1.16 by $0.06. Beacon Roofing Supply had a return on equity of 30.06% and a net margin of 5.44%. The company made $1.97 billion in revenue for the quarter, compared to analysts’ expectations of $1.98 billion. On average, analysts are forecasting that Beacon Roofing Supply, Inc. will post 6.24 EPS for the current fiscal year.
Insiders place their bets
In related news, major shareholder Cd&R Investment Associates Ix acquired 107,185 shares of Beacon Roofing Supply in a transaction on Monday, January 30th. The stock was purchased at an average price of $55.98 per share for a total value of $6,000,216.30. Following the transaction, the insider now owns 15,072,084 shares of the company’s stock valued at approximately $843,735,262.32. The purchase was disclosed in a document filed with the SEC, which is available through the SEC’s website. Company insiders own 0.95% of the company’s shares.
Beacon Roofing Supply Profile
Beacon Roofing Supply, Inc is engaged in the distribution of roofing materials for residential and non-residential buildings. It also sells ancillary building products, including siding, windows, specialty exterior building products, insulation and waterproofing systems for the exterior of buildings. The company was incorporated on August 22, 1997 and is headquartered in Herndon, VA.
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