Aristides Capital LLC Acquires 810 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Aristides Capital LLC boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 32.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,334 shares of the company’s stock after purchasing an additional 810 shares during the quarter. Aristides Capital LLC’s holdings in Beacon Roofing Supply were worth $339,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BECN. Quarry LP grew its holdings 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 purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $31,000. PNC Financial Services Group Inc. grew its holdings in shares of Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after buying an additional 163 shares during the last quarter. Nomura Asset Management Co. Ltd. raised 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 last quarter. 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 acquiring an additional 196 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Loop Capital reissued a “hold” rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Robert W. Baird upped their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Royal Bank of Canada downgraded Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $124.00 to $124.35 in a research note on Wednesday, April 2nd. BMO Capital Markets reduced their price target on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $122.10.

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $122.43 on Monday. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $123.90. The company has a 50-day simple moving average of $119.17 and a two-hundred day simple moving average of $107.61. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The firm has a market capitalization of $7.56 billion, a PE ratio of 20.93 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly 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 for 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%. On average, analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

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.