Intech Investment Management LLC Acquires 7,224 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Intech Investment Management LLC lifted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 43.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,893 shares of the company’s stock after buying an additional 7,224 shares during the quarter. Intech Investment Management LLC’s holdings in Beacon Roofing Supply were worth $2,427,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC raised its holdings 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 valued at $556,253,000 after buying an additional 963,633 shares during the last quarter. State Street Corp increased its position in Beacon Roofing Supply by 1.1% in the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after purchasing an additional 15,505 shares during the period. Fisher Asset Management LLC increased its position in Beacon Roofing Supply by 2.1% in the fourth 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. Vaughan Nelson Investment Management L.P. increased its position in Beacon Roofing Supply by 2.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company’s stock worth $100,076,000 after purchasing an additional 22,122 shares during the period. Finally, Janus Henderson Group PLC increased its position in Beacon Roofing Supply by 1,449.0% in the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after purchasing an additional 575,852 shares during the period. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday. StockNews.com initiated coverage on Beacon Roofing Supply in a research report on Monday. They set a “sell” rating for the company. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Finally, Benchmark restated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus target price of $119.95.

Beacon Roofing Supply Trading Up 1.9 %

NASDAQ BECN opened at $123.83 on Friday. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 21.17 and a beta of 1.63. The stock’s 50 day moving average price is $116.92 and its two-hundred day moving average price is $104.23. 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 52 week low of $77.54 and a 52 week high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last released its 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 firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

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.