Loomis Sayles & Co. L P Buys 35,512 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Loomis Sayles & Co. L P lifted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 379,145 shares of the company’s stock after acquiring an additional 35,512 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Beacon Roofing Supply were worth $38,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Beacon Roofing Supply by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock worth $52,182,000 after purchasing an additional 5,497 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at about $614,000. Harvest Fund Management Co. Ltd bought a new stake in Beacon Roofing Supply in the 3rd quarter worth approximately $28,000. FMR LLC boosted its stake in Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after buying an additional 963,633 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in Beacon Roofing Supply by 169.2% during the third quarter. Quantbot Technologies LP now owns 23,529 shares of the company’s stock valued at $2,034,000 after acquiring an additional 14,788 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BECN has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. BMO Capital Markets lowered their price target on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Baird R W lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, Loop Capital restated a “hold” rating and set a $124.00 price target on shares of Beacon Roofing Supply in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Price Performance

Shares of BECN stock opened at $123.86 on Friday. 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 $124.62. The firm has a market cap of $7.63 billion, a P/E ratio of 21.17 and a beta of 1.63. The business’s 50 day moving average price is $118.34 and its 200-day moving average price is $105.57.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, equities research analysts anticipate 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.