Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,540 shares of the company’s stock after acquiring an additional 1,935 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Beacon Roofing Supply were worth $1,680,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at $31,000. PNC Financial Services Group Inc. increased its holdings 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 valued at $60,000 after acquiring an additional 163 shares during the period. Finally, Principal Securities Inc. increased its holdings in shares of Beacon Roofing Supply by 16.5% in the 4th 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 period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $119.90 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $121.42. The stock has a market capitalization of $7.38 billion, a P/E ratio of 20.50 and a beta of 1.63. The company’s fifty day moving average is $115.41 and its two-hundred day moving average is $103.53.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. On average, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

BECN has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. BMO Capital Markets cut their target price on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Robert W. Baird lifted their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research note on Monday. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply has a consensus 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.