Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 89.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,715 shares of the company’s stock after selling 56,104 shares during the quarter. Great Lakes Advisors LLC’s holdings in Beacon Roofing Supply were worth $682,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BECN. KBC Group NV increased its stake in shares of Beacon Roofing Supply by 20.8% during the third quarter. KBC Group NV now owns 1,728 shares of the company’s stock valued at $149,000 after acquiring an additional 297 shares during the period. Huntington National Bank increased its stake in shares of Beacon Roofing Supply by 14.1% during the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after acquiring an additional 206 shares during the period. Natixis Advisors LLC boosted its holdings in Beacon Roofing Supply by 21.1% during 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. Vaughan Nelson Investment Management L.P. boosted its holdings in Beacon Roofing Supply by 18.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock worth $83,239,000 after buying an additional 152,030 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Beacon Roofing Supply by 1.4% during 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 in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Stephens restated an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Monday. They set a “sell” rating for the company. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Robert W. Baird raised their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of “Hold” and a consensus price target of $119.95.

Beacon Roofing Supply Trading Up 0.3 %

Beacon Roofing Supply stock opened at $118.34 on Monday. The company has a 50 day moving average price of $115.41 and a 200 day moving average price of $103.53. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $121.42. 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 firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 20.23 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last issued 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 net margin of 3.86% and a return on equity of 25.32%. Research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current 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.