Wolverine Asset Management LLC purchased a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,000 shares of the company’s stock, valued at approximately $1,530,000.
Other large investors have also made changes to their positions in the company. IndexIQ Advisors LLC boosted its position in shares of Beacon Roofing Supply by 82.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 17,629 shares of the company’s stock worth $903,000 after purchasing an additional 7,989 shares in the last quarter. Keybank National Association OH bought a new stake in shares of Beacon Roofing Supply in the 3rd quarter worth approximately $210,000. Swiss National Bank boosted its position in shares of Beacon Roofing Supply by 10.7% in the 3rd quarter. Swiss National Bank now owns 110,700 shares of the company’s stock worth $5,673,000 after purchasing an additional 10,700 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Beacon Roofing Supply by 502.2% in the 3rd quarter. Jennison Associates LLC now owns 1,683,096 shares of the company’s stock worth $86,259,000 after purchasing an additional 1,403,608 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Beacon Roofing Supply by 197.3% in the 3rd quarter. Sei Investments Co. now owns 228,911 shares of the company’s stock worth $11,750,000 after purchasing an additional 151,907 shares in the last quarter.
A number of brokerages have recently commented on BECN. BidaskClub cut Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 14th. Wedbush reissued an “outperform” rating and issued a $52.00 price target (down from $70.00) on shares of Beacon Roofing Supply in a research report on Tuesday, February 13th. Royal Bank of Canada set a $66.00 price target on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Friday, February 9th. Citigroup dropped their price target on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Finally, Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $60.45.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.14. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Beacon Roofing Supply had a return on equity of 9.60% and a net margin of 3.29%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. equities analysts anticipate that Beacon Roofing Supply, Inc. will post 3.56 earnings per share for the current fiscal year.
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Beacon Roofing Supply Profile
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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