Deutsche Bank AG grew its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 36.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,340 shares of the company’s stock after purchasing an additional 59,512 shares during the quarter. Deutsche Bank AG’s holdings in Beacon Roofing Supply were worth $7,050,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Csenge Advisory Group purchased a new stake in shares of Beacon Roofing Supply in the third quarter worth about $27,000. First Personal Financial Services purchased a new stake in shares of Beacon Roofing Supply in the fourth quarter worth about $33,000. Paradigm Asset Management Co. LLC purchased a new stake in shares of Beacon Roofing Supply in the third quarter worth about $51,000. IFP Advisors Inc lifted its holdings in shares of Beacon Roofing Supply by 107.6% in the fourth quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $65,000 after buying an additional 1,076 shares in the last quarter. Finally, Lloyds Banking Group plc lifted its holdings in shares of Beacon Roofing Supply by 81.6% in the fourth quarter. Lloyds Banking Group plc now owns 2,534 shares of the company’s stock worth $80,000 after buying an additional 1,139 shares in the last quarter.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Buckingham Research initiated coverage on shares of Beacon Roofing Supply in a research note on Monday, February 25th. They issued a “neutral” rating and a $38.00 target price on the stock. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Monday, February 4th. Wedbush raised their target price on shares of Beacon Roofing Supply from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, February 8th. Finally, ValuEngine raised shares of Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. Beacon Roofing Supply has a consensus rating of “Hold” and an average price target of $40.12.
Shares of BECN opened at $38.80 on Monday. The company has a market capitalization of $2.66 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.64 and a beta of 1.42. The company has a current ratio of 2.43, a quick ratio of 1.35 and a debt-to-equity ratio of 1.61. Beacon Roofing Supply, Inc. has a 1-year low of $24.97 and a 1-year high of $52.29.
Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Thursday, February 7th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.66 billion. Beacon Roofing Supply had a net margin of 0.43% and a return on equity of 11.19%. Beacon Roofing Supply’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. On average, analysts anticipate that Beacon Roofing Supply, Inc. will post 2.9 EPS for the current fiscal year.
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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 solar systems.
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