Parkside Financial Bank & Trust Acquires 245 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Parkside Financial Bank & Trust lifted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 14.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,910 shares of the company’s stock after purchasing an additional 245 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Beacon Roofing Supply were worth $194,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the last quarter. Quarry LP lifted its stake in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Beacon Roofing Supply in the third quarter worth about $28,000. Principal Securities Inc. lifted its stake in Beacon Roofing Supply by 16.5% in the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after purchasing an additional 196 shares during the last quarter. Finally, Huntington National Bank lifted its stake in Beacon Roofing Supply by 14.1% in the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

BECN has been the subject of several analyst reports. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Stephens reissued an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. JPMorgan Chase & Co. raised their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. BMO Capital Markets lifted their price target on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird lifted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $120.62.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $115.42 on Friday. The company has a market capitalization of $7.11 billion, a PE ratio of 19.73 and a beta of 1.62. The company has a 50 day moving average price of $112.56 and a 200-day moving average price of $101.37. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $121.42.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations 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, equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

About Beacon Roofing Supply

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.