Atika Capital Management LLC Has $6.34 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Atika Capital Management LLC lessened its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,400 shares of the company’s stock after selling 3,600 shares during the quarter. Atika Capital Management LLC’s holdings in Beacon Roofing Supply were worth $6,339,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BECN. Quarry LP boosted its holdings in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply in the 4th quarter worth $31,000. PNC Financial Services Group Inc. grew its position in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after purchasing an additional 150 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after buying an additional 196 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BECN shares. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their target price for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research report on Wednesday. They issued a “sell” rating for the company. Raymond James cut shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. Benchmark reaffirmed a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Finally, Robert W. Baird lifted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Hold” and an average target price of $122.10.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $122.43 on Friday. The company’s 50 day moving average is $119.17 and its 200-day moving average is $107.31. The firm has a market cap of $7.56 billion, a P/E ratio of 20.93 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month 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.

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

Beacon Roofing Supply Company 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.