Fisher Asset Management LLC Acquires 20,372 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Fisher Asset Management LLC boosted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,014,087 shares of the company’s stock after buying an additional 20,372 shares during the quarter. Fisher Asset Management LLC’s holdings in Beacon Roofing Supply were worth $103,011,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BECN. Quarry LP boosted its position in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. Blue Trust Inc. boosted its position in shares of Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Beacon Roofing Supply in the third quarter worth approximately $28,000. Principal Securities Inc. boosted its position 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 worth $140,000 after purchasing an additional 196 shares during the period. Finally, Huntington National Bank boosted its position in shares of Beacon Roofing Supply by 14.1% in the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after purchasing an additional 206 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BECN. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Saturday. They set a “sell” rating for the company. 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 report on Thursday, January 16th. Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Stephens restated an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their target price for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $120.62.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $115.42 on Friday. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 19.73 and a beta of 1.62. The firm’s fifty day moving average is $112.56 and its 200 day moving average is $101.37. 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 52-week low of $77.54 and a 52-week high of $121.42.

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

Beacon Roofing Supply 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.