2,011 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc acquired a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,011 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently added to or reduced their stakes in BECN. Quarry LP lifted its position in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after buying an additional 197 shares in the last quarter. Blue Trust Inc. lifted its position in Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Beacon Roofing Supply during the third quarter worth approximately $28,000. Principal Securities Inc. raised its position in Beacon Roofing Supply by 16.5% in 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 during the period. Finally, Huntington National Bank raised its position in Beacon Roofing Supply by 14.1% in the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after purchasing an additional 206 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on BECN shares. JPMorgan Chase & Co. lifted their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. 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. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their target price for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Stephens restated an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $120.17.

Beacon Roofing Supply Trading Down 0.1 %

Shares of NASDAQ BECN opened at $116.00 on Thursday. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $121.42. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a fifty day simple moving average of $112.01 and a 200-day simple moving average of $101.05. The stock has a market capitalization of $7.14 billion, a PE ratio of 19.83 and a beta of 1.62.

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.