Teacher Retirement System of Texas Purchases 20,247 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Teacher Retirement System of Texas boosted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 556.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,888 shares of the company’s stock after purchasing an additional 20,247 shares during the period. Teacher Retirement System of Texas’ holdings in Beacon Roofing Supply were worth $2,427,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Beacon Roofing Supply by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock valued at $52,182,000 after acquiring an additional 5,497 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Beacon Roofing Supply in the third quarter worth about $614,000. Harvest Fund Management Co. Ltd bought a new position in Beacon Roofing Supply during the 3rd quarter worth approximately $28,000. FMR LLC increased its stake in shares of Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after buying an additional 963,633 shares during the period. Finally, Quantbot Technologies LP raised its stake in shares of Beacon Roofing Supply by 169.2% during the third quarter. Quantbot Technologies LP now owns 23,529 shares of the company’s stock valued at $2,034,000 after acquiring an additional 14,788 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $123.84 on Thursday. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 21.17 and a beta of 1.63. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $123.90. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company’s 50-day moving average is $118.02 and its two-hundred day moving average is $105.31.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BECN. Raymond James lowered Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. StockNews.com started coverage on Beacon Roofing Supply in a research report on Tuesday. They set a “sell” rating on the stock. William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Loop Capital restated a “hold” rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research report on Friday, March 21st. Finally, BMO Capital Markets decreased their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $120.95.

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.