Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 38.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 591 shares of the company’s stock after acquiring an additional 163 shares during the period. PNC Financial Services Group Inc.’s holdings in Beacon Roofing Supply were worth $60,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of BECN. FMR LLC grew its position in Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after purchasing an additional 963,633 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Beacon Roofing Supply by 1,449.0% in the 3rd quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after buying an additional 575,852 shares in the last quarter. 140 Summer Partners LP acquired a new stake in Beacon Roofing Supply in the 3rd quarter valued at approximately $29,343,000. Raymond James Financial Inc. bought a new stake in Beacon Roofing Supply during the 4th quarter valued at $24,162,000. Finally, Spruce House Investment Management LLC boosted its position in Beacon Roofing Supply by 97.1% during the 3rd quarter. Spruce House Investment Management LLC now owns 203,000 shares of the company’s stock worth $17,545,000 after acquiring an additional 100,000 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

BECN has been the topic of a number of research analyst reports. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price objective for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Finally, StockNews.com started coverage on Beacon Roofing Supply in a report on Tuesday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply Trading Up 0.0 %

Shares of NASDAQ:BECN opened at $123.84 on Thursday. The stock 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 50 day moving average price of $118.02 and a 200 day moving average price of $105.31. 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 released 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). The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Beacon Roofing Supply Company 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.