Atlanta Capital Management Co. L L C reduced its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 630,651 shares of the company’s stock after selling 8,029 shares during the quarter. Atlanta Capital Management Co. L L C owned about 0.95% of Beacon Roofing Supply worth $32,321,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BECN. Jennison Associates LLC grew its holdings in Beacon Roofing Supply by 502.2% in the third quarter. Jennison Associates LLC now owns 1,683,096 shares of the company’s stock worth $86,259,000 after purchasing an additional 1,403,608 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in Beacon Roofing Supply by 108.4% in the third quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock worth $121,053,000 after purchasing an additional 1,228,625 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in Beacon Roofing Supply in the third quarter worth $32,333,000. Cramer Rosenthal Mcglynn LLC grew its holdings in Beacon Roofing Supply by 51.2% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,174,020 shares of the company’s stock worth $57,527,000 after purchasing an additional 397,770 shares during the last quarter. Finally, Skylands Capital LLC grew its holdings in Beacon Roofing Supply by 1,144.0% in the third quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock worth $10,583,000 after purchasing an additional 189,900 shares during the last quarter.
Several equities analysts have issued reports on BECN shares. Citigroup lifted their price target on shares of Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, August 28th. SunTrust Banks reaffirmed a “buy” rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 10th. KeyCorp raised shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a report on Friday, August 25th. Wells Fargo & Company started coverage on shares of Beacon Roofing Supply in a report on Wednesday, October 18th. They issued a “market perform” rating and a $58.00 price target on the stock. Finally, Zacks Investment Research raised shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price target on the stock in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Beacon Roofing Supply presently has an average rating of “Buy” and an average price target of $56.91.
Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) opened at $61.96 on Friday. Beacon Roofing Supply, Inc. has a one year low of $39.57 and a one year high of $64.88. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The company has a market cap of $4,199.54, a price-to-earnings ratio of 28.57, a PEG ratio of 0.80 and a beta of 1.49.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). Beacon Roofing Supply had a return on equity of 9.09% and a net margin of 2.30%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. research analysts predict that Beacon Roofing Supply, Inc. will post 3.08 EPS for the current fiscal year.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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