Swiss National Bank Reduces Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Swiss National Bank reduced its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,700 shares of the company’s stock after selling 2,500 shares during the period. Swiss National Bank’s holdings in Beacon Roofing Supply were worth $12,362,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. KBC Group NV raised its holdings in Beacon Roofing Supply by 20.8% in 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 during the period. Natixis Advisors LLC increased its position in Beacon Roofing Supply by 21.1% in the third quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock worth $18,528,000 after buying an additional 37,347 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Beacon Roofing Supply by 1.4% in the third quarter. Thrivent Financial for Lutherans now owns 162,694 shares of the company’s stock worth $14,061,000 after buying an additional 2,284 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at about $4,331,000. Finally, Intech Investment Management LLC bought a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at approximately $1,441,000. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $121.53 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $123.30. The business has a 50 day simple moving average of $116.16 and a two-hundred day simple moving average of $103.97. The stock has a market capitalization of $7.48 billion, a PE ratio of 20.77 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on BECN. Benchmark restated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets cut their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. StockNews.com started coverage on Beacon Roofing Supply in a research report on Monday. They issued a “sell” rating on the stock. Finally, Robert W. Baird increased their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $119.95.

About Beacon Roofing Supply

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.