Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 31.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,135 shares of the company’s stock after selling 3,244 shares during the period. Vontobel Holding Ltd.’s holdings in Beacon Roofing Supply were worth $725,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Beacon Roofing Supply by 29.6% in the 3rd quarter. Raymond James & Associates now owns 54,462 shares of the company’s stock valued at $4,707,000 after purchasing an additional 12,433 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Beacon Roofing Supply by 12.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 209,547 shares of the company’s stock worth $18,111,000 after acquiring an additional 22,971 shares in the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of Beacon Roofing Supply by 27.5% during the 3rd quarter. Iridian Asset Management LLC CT now owns 83,713 shares of the company’s stock worth $7,235,000 after acquiring an additional 18,064 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after purchasing an additional 116 shares during the period. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BECN. Benchmark reaffirmed a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, BMO Capital Markets lifted their target price on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $120.17.

Beacon Roofing Supply Stock Up 0.4 %

Shares of NASDAQ:BECN opened at $119.21 on Thursday. The firm has a fifty day moving average price of $110.86 and a two-hundred day moving average price of $99.86. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $121.42. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 20.38 and a beta of 1.62.

About Beacon Roofing Supply

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.