Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stake Boosted by Headlands Technologies LLC

Headlands Technologies LLC lifted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 42.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,571 shares of the company’s stock after purchasing an additional 10,528 shares during the quarter. Headlands Technologies LLC owned about 0.06% of Beacon Roofing Supply worth $3,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BECN. Quarry LP increased its position in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply during the fourth quarter worth about $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 worth $60,000 after acquiring an additional 163 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock worth $73,000 after acquiring an additional 150 shares during the period. Finally, Principal Securities Inc. lifted its position 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 during the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $123.70 on Tuesday. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $123.90. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average of $118.65 and a two-hundred day moving average of $106.53. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 21.15 and a beta of 1.63.

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 business had revenue of $2.40 billion for the quarter, compared to analyst estimates 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 expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Baird R W lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. StockNews.com initiated coverage on Beacon Roofing Supply in a research report on Tuesday, March 25th. They issued a “sell” rating on the stock. Robert W. Baird boosted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Finally, Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.95.

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.