Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. increased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,909 shares of the company’s stock after buying an additional 4,294 shares during the period. Prudential Financial Inc.’s holdings in Beacon Roofing Supply were worth $3,447,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BECN. Janus Henderson Group PLC raised its position in Beacon Roofing Supply by 1,449.0% during the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after acquiring an additional 575,852 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Beacon Roofing Supply during the 4th quarter worth approximately $24,162,000. Spruce House Investment Management LLC raised its position in shares of Beacon Roofing Supply by 97.1% during the 3rd quarter. Spruce House Investment Management LLC now owns 203,000 shares of the company’s stock worth $17,545,000 after purchasing an additional 100,000 shares during the last quarter. Barclays PLC grew its holdings in Beacon Roofing Supply by 272.0% during the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after buying an additional 89,222 shares during the last quarter. Finally, Pier Capital LLC purchased a new position in Beacon Roofing Supply during the third quarter worth $7,629,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BECN. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. BMO Capital Markets decreased their price target on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Loop Capital reiterated a “hold” rating and set a $124.00 price target on shares of Beacon Roofing Supply in a report on Friday, March 21st. Baird R W downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, Robert W. Baird lifted their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $120.95.

Beacon Roofing Supply Trading Up 0.1 %

Shares of BECN opened at $123.78 on Wednesday. The stock’s fifty day simple moving average is $118.65 and its 200 day simple moving average is $106.53. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $123.90. The company has a current ratio of 1.91, a quick ratio of 1.14 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 released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. On average, equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

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.