5,802 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Acquired by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,802 shares of the company’s stock, valued at approximately $589,000.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Beacon Roofing Supply by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock worth $62,489,000 after purchasing an additional 11,426 shares during the last quarter. Intech Investment Management LLC bought a new stake in Beacon Roofing Supply during the 3rd quarter valued at $1,441,000. Raymond James Financial Inc. bought a new stake in Beacon Roofing Supply during the 4th quarter valued at $24,162,000. Barclays PLC raised its stake in Beacon Roofing Supply by 272.0% during the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after acquiring an additional 89,222 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Beacon Roofing Supply by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock valued at $103,011,000 after acquiring an additional 20,372 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BECN. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Loop Capital reaffirmed a “hold” rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday. Baird R W downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Benchmark reissued a “buy” rating and issued a $140.00 price objective 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 report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

Shares of Beacon Roofing Supply stock opened at $123.77 on Friday. The stock’s fifty day moving average is $117.35 and its 200-day moving average is $104.59. The firm has a market capitalization of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

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.