RD Lewis Holdings Inc. Makes New $1.19 Million Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

RD Lewis Holdings Inc. acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 4th quarter, Holdings Channel reports. The fund acquired 11,664 shares of the company’s stock, valued at approximately $1,185,000. Beacon Roofing Supply accounts for 1.4% of RD Lewis Holdings Inc.’s portfolio, making the stock its 26th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of BECN. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply during the 4th quarter valued at about $31,000. Quarry LP lifted its position in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Beacon Roofing Supply in the 3rd quarter worth approximately $28,000. PNC Financial Services Group Inc. lifted its position in shares of Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares during the period. Finally, Principal Securities Inc. lifted its position in Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after acquiring an additional 196 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $119.90 on Tuesday. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 20.50 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 company’s 50-day moving average is $115.41 and its two-hundred day moving average is $103.53. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $122.40.

Beacon Roofing Supply (NASDAQ:BECN) last posted 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 business 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%. Research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BECN. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Monday. They set a “sell” rating on the stock. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price target for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note 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 for the company in a research report on Tuesday, March 4th. Finally, Robert W. Baird lifted their price target 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus price target of $119.95.

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.