Xponance Inc. Acquires 251 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Xponance Inc. lifted its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,016 shares of the company’s stock after purchasing an additional 251 shares during the quarter. Xponance Inc.’s holdings in Beacon Roofing Supply were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in Beacon Roofing Supply in the third quarter worth $1,441,000. Charles Schwab Investment Management Inc. raised its position in shares of Beacon Roofing Supply by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock worth $52,182,000 after purchasing an additional 5,497 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Beacon Roofing Supply by 0.3% in the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock worth $85,887,000 after purchasing an additional 2,607 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Beacon Roofing Supply in the 3rd quarter worth about $614,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Beacon Roofing Supply during the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

NASDAQ BECN opened at $123.80 on Wednesday. The company has a 50-day moving average price of $117.72 and a 200-day moving average price of $105.01. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $123.90. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63.

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

Analysts Set New Price Targets

A number of research firms have recently commented on BECN. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Tuesday. They set a “sell” rating on the stock. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. BMO Capital Markets reduced their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Baird R W downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Finally, Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Beacon Roofing Supply currently has an average rating of “Hold” and an average price target of $120.95.

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.