Intech Investment Management LLC Buys 7,224 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Intech Investment Management LLC lifted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 43.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,893 shares of the company’s stock after purchasing an additional 7,224 shares during the period. Intech Investment Management LLC’s holdings in Beacon Roofing Supply were worth $2,427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BECN. KBC Group NV raised its stake in shares of Beacon Roofing Supply by 20.8% during the 3rd quarter. KBC Group NV now owns 1,728 shares of the company’s stock worth $149,000 after purchasing an additional 297 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Beacon Roofing Supply by 1.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 162,694 shares of the company’s stock worth $14,061,000 after purchasing an additional 2,284 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth approximately $4,331,000. Charles Schwab Investment Management Inc. raised its stake in shares of Beacon Roofing Supply by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock worth $52,182,000 after purchasing an additional 5,497 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in Beacon Roofing Supply by 2.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 142,980 shares of the company’s stock valued at $12,358,000 after acquiring an additional 3,156 shares during the period. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BECN shares. StockNews.com started coverage on Beacon Roofing Supply in a research note on Monday. They issued a “sell” rating on the stock. BMO Capital Markets dropped their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Robert W. Baird increased their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Benchmark restated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Finally, William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus price target of $119.95.

Beacon Roofing Supply Stock Performance

BECN opened at $123.83 on Friday. The firm has a market cap of $7.63 billion, a P/E ratio of 21.17 and a beta of 1.63. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $123.90. 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 business’s fifty day moving average is $116.92 and its 200-day moving average is $104.23.

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

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.