DF Dent & Co. Inc. lowered its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,822 shares of the company’s stock after selling 3,777 shares during the period. DF Dent & Co. Inc.’s holdings in Beacon Roofing Supply were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in BECN. TimesSquare Capital Management LLC boosted its holdings in Beacon Roofing Supply by 108.4% during the third quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock worth $121,053,000 after buying an additional 1,228,625 shares in the last quarter. Bamco Inc. NY purchased a new stake in Beacon Roofing Supply during the third quarter worth about $61,982,000. Baird Financial Group Inc. acquired a new position in Beacon Roofing Supply during the fourth quarter worth about $41,928,000. Stephens Investment Management Group LLC acquired a new position in Beacon Roofing Supply during the third quarter worth about $32,333,000. Finally, Davidson Kempner Capital Management LP acquired a new position in Beacon Roofing Supply during the third quarter worth about $25,625,000.
Beacon Roofing Supply, Inc. (NASDAQ:BECN) opened at $53.61 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 4.60 and a quick ratio of 3.58. The firm has a market cap of $3,681.45, a P/E ratio of 22.46, a PEG ratio of 0.47 and a beta of 1.42. Beacon Roofing Supply, Inc. has a 52-week low of $39.57 and a 52-week high of $66.47.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.14. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Beacon Roofing Supply had a net margin of 3.29% and a return on equity of 9.60%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. analysts forecast that Beacon Roofing Supply, Inc. will post 3.56 EPS for the current year.
A number of equities analysts have issued reports on BECN shares. Zacks Investment Research cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 22nd. Royal Bank of Canada restated an “outperform” rating and set a $63.00 target price (up previously from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. BidaskClub cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Jefferies Group restated a “buy” rating and set a $73.00 target price on shares of Beacon Roofing Supply in a research report on Wednesday, January 17th. Finally, Wedbush upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $70.00 in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Beacon Roofing Supply presently has a consensus rating of “Buy” and a consensus target price of $60.45.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.
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