Cornerstone Investment Partners LLC Purchases 166 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Cornerstone Investment Partners LLC increased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,730 shares of the company’s stock after acquiring an additional 166 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Beacon Roofing Supply were worth $480,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in Beacon Roofing Supply in the 3rd quarter worth $1,441,000. Barclays PLC grew its position in Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after purchasing an additional 89,222 shares during the last quarter. Choreo LLC grew its position in Beacon Roofing Supply by 30.6% in the 4th quarter. Choreo LLC now owns 10,183 shares of the company’s stock worth $1,014,000 after purchasing an additional 2,383 shares during the last quarter. JPMorgan Chase & Co. grew its position in Beacon Roofing Supply by 16.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company’s stock worth $30,849,000 after purchasing an additional 49,902 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Beacon Roofing Supply by 23.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company’s stock worth $3,668,000 after purchasing an additional 7,924 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zelman & Associates lowered 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 Saturday. They issued a “sell” rating on the stock. Robert W. Baird raised their price target 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. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their target price 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $120.62.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock opened at $112.91 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 firm’s 50-day simple moving average is $112.56 and its 200-day simple moving average is $101.59. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $121.42. The firm has a market cap of $6.95 billion, a P/E ratio of 19.30 and a beta of 1.62.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly 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 firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, research analysts expect 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.