Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 49.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 38,200 shares of the company’s stock after purchasing an additional 12,600 shares during the period. First Eagle Investment Management LLC owned approximately 0.06% of Beacon Roofing Supply worth $3,880,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of BECN. KBC Group NV grew its position in 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 during the last quarter. Huntington National Bank grew its position in Beacon Roofing Supply by 14.1% during the 3rd 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 last quarter. Natixis Advisors LLC grew its position in Beacon Roofing Supply by 21.1% during the 3rd quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock worth $18,528,000 after purchasing an additional 37,347 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Beacon Roofing Supply by 18.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock worth $83,239,000 after purchasing an additional 152,030 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in 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 during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BECN has been the topic of several research reports. Benchmark reissued a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. BMO Capital Markets dropped their price target on shares of 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. Stephens reiterated an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $119.95.

Beacon Roofing Supply Trading Up 0.3 %

Shares of BECN opened at $118.34 on Friday. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $121.42. The firm has a market capitalization of $7.29 billion, a P/E ratio of 20.23 and a beta of 1.63. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The firm’s 50-day moving average is $115.41 and its two-hundred day moving average is $103.43.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly 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). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. On average, research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal 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.