Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,495 shares of the company’s stock after selling 1,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Beacon Roofing Supply were worth $1,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE raised its holdings in Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after buying an additional 116 shares during the period. Equitable Trust Co. increased its position in Beacon Roofing Supply by 1.7% during the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after buying an additional 122 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Beacon Roofing Supply by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after acquiring an additional 181 shares during the period. Principal Securities Inc. lifted its stake in shares of Beacon Roofing Supply by 16.5% in the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after buying an additional 196 shares during the period. Finally, Quarry LP lifted its stake in shares of 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. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Up 0.6 %

Shares of BECN stock opened at $116.07 on Wednesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The firm’s 50-day moving average is $111.72 and its 200-day moving average is $100.94. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 19.84 and a beta of 1.62. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $121.42.

Wall Street Analyst Weigh In

A number of research analysts have commented on BECN shares. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price target for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Royal Bank of Canada lifted their target price on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research report on Friday, February 21st. They set a “sell” rating on the stock. BMO Capital Markets upped their target price on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $120.17.

Beacon Roofing Supply Company 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.