Swiss National Bank Sells 2,500 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Swiss National Bank cut its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,700 shares of the company’s stock after selling 2,500 shares during the quarter. Swiss National Bank owned about 0.20% of Beacon Roofing Supply worth $12,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP boosted its holdings in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Beacon Roofing Supply during the 3rd quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in Beacon Roofing Supply during the fourth quarter worth about $31,000. PNC Financial Services Group Inc. grew its holdings in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares during the period. Finally, Principal Securities Inc. increased its stake in shares of Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after purchasing an additional 196 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BECN. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Benchmark reissued a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price target for the company from $131.00 to $122.55 in a report on Friday, February 7th. Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research note on Monday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $119.95.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $121.53 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average price of $116.16 and a 200-day moving average price of $103.97. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $123.30. The firm has a market capitalization of $7.48 billion, a PE ratio of 20.77 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. As a group, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

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.