Frontier Capital Management Co. LLC lowered its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,128,963 shares of the company’s stock after selling 183,149 shares during the period. Beacon Roofing Supply comprises about 1.5% of Frontier Capital Management Co. LLC’s investment portfolio, making the stock its 2nd largest position. Frontier Capital Management Co. LLC owned about 6.85% of Beacon Roofing Supply worth $202,319,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of BECN. BlackRock Inc. boosted its position in Beacon Roofing Supply by 80,484.5% in the first quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock worth $197,720,000 after buying an additional 4,016,982 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Beacon Roofing Supply during the first quarter valued at $21,690,000. Vanguard Group Inc. boosted its stake in shares of Beacon Roofing Supply by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,845,530 shares of the company’s stock valued at $238,207,000 after buying an additional 246,233 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Beacon Roofing Supply during the first quarter valued at $8,849,000. Finally, Pax World Management LLC purchased a new stake in shares of Beacon Roofing Supply during the first quarter valued at $8,603,000.
Shares of Beacon Roofing Supply, Inc. (BECN) traded down 0.95% during midday trading on Friday, hitting $40.47. The company’s stock had a trading volume of 33,620 shares. Beacon Roofing Supply, Inc. has a 12-month low of $39.50 and a 12-month high of $52.12. The firm has a 50-day moving average of $45.93 and a 200 day moving average of $47.56. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 24.03 and a beta of 1.32.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.90 by $0.06. Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Beacon Roofing Supply, Inc. will post $2.20 EPS for the current fiscal year.
Several equities research analysts have weighed in on BECN shares. Royal Bank Of Canada upped their target price on Beacon Roofing Supply from $51.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Citigroup Inc. reiterated a “buy” rating and issued a $52.00 target price (up from $48.00) on shares of Beacon Roofing Supply in a report on Thursday, May 11th. Wedbush reiterated a “neutral” rating and issued a $47.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, July 5th. Finally, BidaskClub cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $50.50.
About Beacon Roofing Supply
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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