Cornerstone Investment Partners LLC Buys 166 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Cornerstone Investment Partners LLC grew its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 3.6% in the fourth quarter, HoldingsChannel reports. The fund owned 4,730 shares of the company’s stock after acquiring an additional 166 shares during the period. Cornerstone Investment Partners LLC’s holdings in Beacon Roofing Supply were worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BECN. Quarry LP raised its stake in shares of 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 acquiring an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Beacon Roofing Supply in the third quarter worth about $28,000. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $31,000. Principal Securities Inc. raised its stake in shares of Beacon Roofing Supply by 16.5% in the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after acquiring an additional 196 shares during the last quarter. Finally, Huntington National Bank raised its stake in shares of Beacon Roofing Supply by 14.1% in the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after acquiring an additional 206 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Trading Down 2.2 %

BECN opened at $112.91 on Tuesday. The firm’s fifty day moving average is $112.56 and its two-hundred day moving average is $101.59. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The firm has a market cap of $6.95 billion, a PE ratio of 19.30 and a beta of 1.62. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $121.42.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results 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 firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BECN shares. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research note on Saturday. They issued a “sell” rating for the company. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reissued a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price target for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Finally, BMO Capital Markets boosted their price target on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $120.62.

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.