Pictet Asset Management Holding SA Has $892,000 Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Pictet Asset Management Holding SA cut its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,779 shares of the company’s stock after selling 156 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Beacon Roofing Supply were worth $892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quarry LP lifted its position 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 acquiring an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply during the fourth quarter valued at about $31,000. PNC Financial Services Group Inc. boosted its position in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after buying an additional 150 shares during the period. Finally, Principal Securities Inc. increased its position in Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after buying an additional 196 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BECN has been the topic of several recent research reports. StockNews.com started coverage on Beacon Roofing Supply in a report on Wednesday, April 2nd. They issued a “sell” rating on the stock. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, Raymond James downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $122.10.

Beacon Roofing Supply Trading Down 1.0 %

Shares of BECN stock opened at $122.43 on Monday. 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 company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 20.93 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $123.90. The company has a 50-day simple moving average of $119.17 and a two-hundred day simple moving average of $107.61.

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

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.