Nordea Investment Management AB trimmed its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,811 shares of the company’s stock after selling 3,685 shares during the period. Nordea Investment Management AB owned about 0.30% of Beacon Roofing Supply worth $16,828,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its position in shares of Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares during the period. Raymond James & Associates boosted its position in Beacon Roofing Supply by 11.6% during the 1st quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock valued at $797,000 after acquiring an additional 1,397 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Beacon Roofing Supply during the 1st quarter valued at approximately $317,000. AlphaCrest Capital Management LLC grew its holdings in shares of Beacon Roofing Supply by 4.0% during the 1st quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock worth $419,000 after acquiring an additional 273 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Beacon Roofing Supply by 27.0% in the 1st quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock worth $665,000 after acquiring an additional 2,267 shares in the last quarter.
Wall Street Analysts Forecast Growth
BECN has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. JPMorgan Chase & Co. dropped their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $99.00 to $115.00 in a research report on Thursday, February 29th. Finally, StockNews.com upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and an average price target of $94.45.
View Our Latest Analysis on Beacon Roofing Supply
Beacon Roofing Supply Trading Up 1.5 %
NASDAQ:BECN opened at $94.05 on Thursday. The company has a market cap of $5.97 billion, a PE ratio of -200.11, a price-to-earnings-growth ratio of 1.55 and a beta of 1.62. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30. The company has a 50 day simple moving average of $85.76 and a two-hundred day simple moving average of $81.38. Beacon Roofing Supply, Inc. has a 12 month low of $54.60 and a 12 month high of $94.61.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the company posted $1.18 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. Research analysts forecast that Beacon Roofing Supply, Inc. will post 7.86 earnings per share for the current year.
Beacon Roofing Supply Company Profile
(Free Report)
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.
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