Xponance Inc. Purchases 251 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Xponance Inc. lifted its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,016 shares of the company’s stock after purchasing an additional 251 shares during the quarter. Xponance Inc.’s holdings in Beacon Roofing Supply were worth $510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BECN. Charles Schwab Investment Management Inc. raised its holdings in Beacon Roofing Supply by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock valued at $62,489,000 after acquiring an additional 11,426 shares during the period. Intech Investment Management LLC bought a new stake in Beacon Roofing Supply during the 3rd quarter valued at approximately $1,441,000. Raymond James Financial Inc. bought a new stake in Beacon Roofing Supply during the 4th quarter valued at approximately $24,162,000. Barclays PLC lifted its holdings in Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after purchasing an additional 89,222 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Beacon Roofing Supply by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock worth $103,011,000 after purchasing an additional 20,372 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $123.80 on Wednesday. The company has a market cap of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63. The business’s 50 day moving average price is $117.72 and its 200-day moving average price is $105.01. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $123.90. 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 (NASDAQ:BECN) last posted its quarterly earnings data 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). The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BECN. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Loop Capital reiterated a “hold” rating and issued a $124.00 price target on shares of Beacon Roofing Supply in a report on Friday, March 21st. Benchmark reissued a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Robert W. Baird lifted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, StockNews.com began coverage on Beacon Roofing Supply in a research report on Tuesday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus price target of $120.95.

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.