Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,540 shares of the company’s stock after buying an additional 1,935 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Beacon Roofing Supply were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Beacon Roofing Supply by 38.1% during 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 last quarter. Inceptionr LLC acquired a new stake in Beacon Roofing Supply during the fourth quarter worth about $665,000. Raymond James Financial Inc. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth about $24,162,000. Cornerstone Investment Partners LLC increased its position in Beacon Roofing Supply by 3.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock worth $480,000 after purchasing an additional 166 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Beacon Roofing Supply by 1.9% during the fourth 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 last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Trading Up 1.3 %

Shares of BECN stock opened at $119.90 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The stock has a market capitalization of $7.38 billion, a P/E ratio of 20.50 and a beta of 1.63. The company has a 50 day moving average price of $115.41 and a 200 day moving average price of $103.53. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $121.42.

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

Wall Street Analysts Forecast Growth

BECN has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research report on Monday. They set a “sell” rating for the company. Finally, BMO Capital Markets dropped 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $119.95.

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.