Los Angeles Capital Management LLC Sells 7,222 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Los Angeles Capital Management LLC cut its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 26.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,449 shares of the company’s stock after selling 7,222 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Beacon Roofing Supply were worth $2,077,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the period. Raymond James & Associates raised its holdings in Beacon Roofing Supply by 29.6% in the 3rd quarter. Raymond James & Associates now owns 54,462 shares of the company’s stock valued at $4,707,000 after acquiring an additional 12,433 shares during the period. US Bancorp DE raised its holdings in Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after acquiring an additional 116 shares during the period. Cannon Global Investment Management LLC lifted its position in Beacon Roofing Supply by 24.3% during the third quarter. Cannon Global Investment Management LLC now owns 5,000 shares of the company’s stock worth $432,000 after acquiring an additional 978 shares during the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of Beacon Roofing Supply during the third quarter worth approximately $1,723,000. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

BECN stock opened at $115.42 on Friday. The company’s 50-day moving average price is $112.29 and its two-hundred day moving average price is $101.15. The firm has a market cap of $7.11 billion, a P/E ratio of 19.73 and a beta of 1.62. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $121.42.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. On average, analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BECN shares. JPMorgan Chase & Co. increased their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Benchmark reissued a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Saturday. They issued a “sell” rating for the company. Royal Bank of Canada raised their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.62.

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.