Cramer Rosenthal Mcglynn LLC lessened its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 65.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 401,053 shares of the company’s stock after selling 755,789 shares during the period. Cramer Rosenthal Mcglynn LLC owned 0.59% of Beacon Roofing Supply worth $25,571,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Zions Bancorporation purchased a new position in Beacon Roofing Supply in the 3rd quarter worth about $124,000. Cerebellum GP LLC purchased a new position in Beacon Roofing Supply in the 4th quarter worth about $130,000. Keybank National Association OH purchased a new position in Beacon Roofing Supply in the 3rd quarter worth about $210,000. CAPROCK Group Inc. purchased a new position in Beacon Roofing Supply in the 4th quarter worth about $212,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Beacon Roofing Supply in the 3rd quarter worth about $214,000.
Several research analysts recently commented on the stock. BidaskClub downgraded shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 14th. Wedbush reaffirmed an “outperform” rating and issued a $52.00 price target (down previously from $70.00) on shares of Beacon Roofing Supply in a research note on Tuesday, February 13th. Royal Bank of Canada set a $66.00 target price on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a report on Friday, February 9th. Citigroup dropped their target price on shares of Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Finally, Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $60.45.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 8th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.14. Beacon Roofing Supply had a net margin of 3.29% and a return on equity of 9.60%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the business earned $0.56 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. equities analysts anticipate that Beacon Roofing Supply, Inc. will post 3.56 earnings per share for the current year.
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About Beacon Roofing Supply
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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