Vanguard Group Inc. raised its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 19.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,625,482 shares of the company’s stock after purchasing an additional 909,819 shares during the quarter. Vanguard Group Inc. owned 0.09% of Beacon Roofing Supply worth $434,118,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust acquired a new position in shares of Beacon Roofing Supply in the 2nd quarter worth approximately $27,000. Exchange Traded Concepts LLC raised its position in Beacon Roofing Supply by 63.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock worth $65,000 after purchasing an additional 325 shares during the last quarter. Advisor Group Holdings Inc. raised its position in 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 last quarter. Headlands Technologies LLC bought a new position in Beacon Roofing Supply in the 3rd quarter worth approximately $98,000. Finally, Osaic Holdings Inc. raised its position in Beacon Roofing Supply by 43.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,114 shares of the company’s stock worth $127,000 after purchasing an additional 641 shares during the last quarter.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $115.00 in a research report on Thursday, February 29th. Stifel Nicolaus upped their target price on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. JPMorgan Chase & Co. dropped their target price on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. StockNews.com upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Finally, William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and an average target price of $94.45.
Get Our Latest Analysis on Beacon Roofing Supply
Beacon Roofing Supply Stock Up 0.4 %
Beacon Roofing Supply stock opened at $95.18 on Monday. The stock has a market cap of $6.04 billion, a P/E ratio of -202.51, a P/E/G ratio of 1.67 and a beta of 1.62. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. Beacon Roofing Supply, Inc. has a twelve month low of $54.60 and a twelve month high of $96.86. The company’s 50-day moving average price is $86.20 and its two-hundred day moving average price is $81.62.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.22). The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The firm’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 earnings per share. As a group, analysts expect that Beacon Roofing Supply, Inc. will post 7.87 EPS for the current year.
Beacon Roofing Supply 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.
Further Reading
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