Cibc World Markets Corp Invests $589,000 in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Cibc World Markets Corp acquired a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,802 shares of the company’s stock, valued at approximately $589,000.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Beacon Roofing Supply by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock worth $62,489,000 after purchasing an additional 11,426 shares during the period. Intech Investment Management LLC purchased a new position in shares of Beacon Roofing Supply in the 3rd quarter worth about $1,441,000. Raymond James Financial Inc. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth about $24,162,000. Barclays PLC grew its stake in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after buying an additional 89,222 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Beacon Roofing Supply by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock valued at $103,011,000 after buying an additional 20,372 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BECN. StockNews.com began coverage on Beacon Roofing Supply in a research note on Monday, March 17th. They issued a “sell” rating for the company. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. BMO Capital Markets lowered their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Baird R W lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $120.95.

Beacon Roofing Supply Price Performance

Shares of BECN opened at $123.77 on Friday. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63. The stock has a 50 day moving average of $117.35 and a 200-day moving average of $104.59. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 27th. The company reported $1.65 EPS 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%. As a group, analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS 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.