Victory Capital Management Inc. Trims Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Victory Capital Management Inc. decreased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,453 shares of the company’s stock after selling 401 shares during the period. Victory Capital Management Inc.’s holdings in Beacon Roofing Supply were worth $1,062,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP grew its holdings in Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Beacon Roofing Supply in the 3rd quarter worth $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth $31,000. Principal Securities Inc. increased its holdings in 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 purchasing an additional 196 shares in the last quarter. Finally, KBC Group NV increased its holdings in Beacon Roofing Supply by 20.8% in the 3rd quarter. KBC Group NV now owns 1,728 shares of the company’s stock valued at $149,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of BECN stock opened at $121.53 on Thursday. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $122.22. The firm’s 50 day moving average is $116.16 and its 200-day moving average is $103.97. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 20.77 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.

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

Analyst Upgrades and Downgrades

BECN has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a report on Monday. They issued a “sell” rating on the stock. BMO Capital Markets cut their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price target for the company from $131.00 to $122.55 in a report on Friday, February 7th. Finally, Benchmark reissued a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. 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 data from MarketBeat, Beacon Roofing Supply has an average rating of “Hold” and an average target price 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.