Natixis Advisors LLC Trims Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Natixis Advisors LLC lessened its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.8% during the 4th quarter, Holdings Channel reports. The firm owned 210,554 shares of the company’s stock after selling 3,814 shares during the quarter. Natixis Advisors LLC’s holdings in Beacon Roofing Supply were worth $21,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at about $31,000. Quarry LP lifted its holdings in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Beacon Roofing Supply in the third quarter valued at about $28,000. PNC Financial Services Group Inc. lifted its holdings in shares of Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings 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 valued at $140,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $119.90 on Tuesday. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $122.40. 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 company has a 50 day moving average price of $115.41 and a 200 day moving average price of $103.53. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 20.50 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data 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 return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BECN shares. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Stephens reissued an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. 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. Robert W. Baird boosted their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently 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.