Sei Investments Co. Has $32.11 Million Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Sei Investments Co. grew its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,121 shares of the company’s stock after purchasing an additional 3,469 shares during the quarter. Sei Investments Co. owned approximately 0.51% of Beacon Roofing Supply worth $32,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BECN. Quarry LP boosted its position in Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Beacon Roofing Supply during the third quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply during the fourth quarter worth $31,000. PNC Financial Services Group Inc. lifted its holdings in shares of Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares during the period. Finally, Principal Securities Inc. grew its stake in shares of 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. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Robert W. Baird lifted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. BMO Capital Markets reduced their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Finally, William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

BECN stock opened at $123.80 on Wednesday. The stock’s 50 day simple moving average is $117.72 and its 200 day simple moving average is $105.01. The company has a market cap of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63. 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 $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

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.