New York State Common Retirement Fund raised its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 15.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,297 shares of the company’s stock after acquiring an additional 27,738 shares during the quarter. New York State Common Retirement Fund owned 0.34% of Beacon Roofing Supply worth $10,060,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in BECN. UBS Asset Management Americas Inc. lifted its stake in Beacon Roofing Supply by 66.0% in the first quarter. UBS Asset Management Americas Inc. now owns 28,840 shares of the company’s stock valued at $1,418,000 after buying an additional 11,466 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Beacon Roofing Supply during the first quarter valued at about $566,000. Parametric Portfolio Associates LLC raised its stake in shares of Beacon Roofing Supply by 8.3% during the first quarter. Parametric Portfolio Associates LLC now owns 109,455 shares of the company’s stock valued at $5,381,000 after purchasing an additional 8,384 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in shares of Beacon Roofing Supply by 5.4% during the first quarter. Virginia Retirement Systems ET AL now owns 5,900 shares of the company’s stock valued at $290,000 after purchasing an additional 300 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Beacon Roofing Supply during the first quarter valued at about $299,000. 90.92% of the stock is owned by institutional investors and hedge funds.
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A number of equities analysts recently weighed in on the company. KeyCorp reissued a “buy” rating and issued a $56.00 price target on shares of Beacon Roofing Supply in a research note on Sunday. Robert W. Baird reaffirmed a “buy” rating and set a $55.00 target price on shares of Beacon Roofing Supply in a research note on Thursday, October 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $53.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price target for the company in a report on Tuesday, October 3rd. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $55.00 price target on shares of Beacon Roofing Supply in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $52.73.
Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) opened at 52.73 on Tuesday. Beacon Roofing Supply, Inc. has a 52-week low of $39.57 and a 52-week high of $53.11. The stock’s 50 day moving average price is $49.89 and its 200-day moving average price is $48.19. The company has a market capitalization of $3.18 billion, a PE ratio of 31.31 and a beta of 1.32.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.06). Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the business posted $0.77 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts expect that Beacon Roofing Supply, Inc. will post $2.19 earnings per share for the current year.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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