Pier Capital LLC Purchases 2,691 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Pier Capital LLC lifted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,954 shares of the company’s stock after purchasing an additional 2,691 shares during the period. Beacon Roofing Supply comprises 1.3% of Pier Capital LLC’s investment portfolio, making the stock its 26th largest holding. Pier Capital LLC’s holdings in Beacon Roofing Supply were worth $9,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BECN. FMR LLC grew its holdings in Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after acquiring an additional 963,633 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of 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 valued at $53,205,000 after acquiring an additional 575,852 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Beacon Roofing Supply by 1,192.1% during the third quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock worth $44,398,000 after purchasing an additional 473,937 shares during the period. 140 Summer Partners LP bought a new stake in shares of Beacon Roofing Supply in the third quarter worth $29,343,000. Finally, Raymond James Financial Inc. acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at $24,162,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 0.0 %

Beacon Roofing Supply stock opened at $123.82 on Tuesday. The company has a market capitalization of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $123.90. The firm’s fifty day moving average is $117.72 and its 200 day moving average is $105.01. 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 quarterly earnings results 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). The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate 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, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on BECN. Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. StockNews.com initiated coverage on Beacon Roofing Supply in a research note on Tuesday. They issued a “sell” rating on the stock. Baird R W downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Finally, Loop Capital reiterated a “hold” rating and set a $124.00 price objective on shares of Beacon Roofing Supply in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $120.95.

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.