Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the first quarter, according to its most recent 13F filing with the SEC. The firm bought 6,091 shares of the company’s stock, valued at approximately $299,000.

A number of other hedge funds also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its stake in Beacon Roofing Supply by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,064 shares of the company’s stock valued at $2,019,000 after buying an additional 104 shares during the period. 1st Global Advisors Inc. increased its stake in Beacon Roofing Supply by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 9,760 shares of the company’s stock valued at $480,000 after buying an additional 116 shares during the period. Bbva Compass Bancshares Inc. increased its stake in Beacon Roofing Supply by 3.7% in the first quarter. Bbva Compass Bancshares Inc. now owns 5,953 shares of the company’s stock valued at $293,000 after buying an additional 212 shares during the period. Greenwood Capital Associates LLC increased its stake in Beacon Roofing Supply by 5.3% in the first quarter. Greenwood Capital Associates LLC now owns 4,899 shares of the company’s stock valued at $241,000 after buying an additional 247 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in Beacon Roofing Supply by 4.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 5,684 shares of the company’s stock valued at $279,000 after buying an additional 248 shares during the period.

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

Beacon Roofing Supply, Inc. (BECN) opened at 49.55 on Tuesday. The firm has a 50-day moving average of $48.93 and a 200 day moving average of $47.47. Beacon Roofing Supply, Inc. has a 12 month low of $39.50 and a 12 month high of $52.12. The stock has a market cap of $2.99 billion, a PE ratio of 30.23 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, May 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. Beacon Roofing Supply had a net margin of 2.37% and a return on equity of 9.42%. The company had revenue of $870.70 million during the quarter, compared to analyst estimates of $814.74 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts anticipate that Beacon Roofing Supply, Inc. will post $2.37 EPS for the current year.

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Several analysts recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Beacon Roofing Supply from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Wedbush reiterated a “neutral” rating and issued a $47.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “sell” rating to a “buy” rating and set a $56.00 target price for the company in a report on Thursday, April 13th. William Blair reiterated a “neutral” rating and issued a $45.00 target price on shares of Beacon Roofing Supply in a report on Friday, April 14th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $52.00 target price (up previously from $48.00) on shares of Beacon Roofing Supply in a report on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $51.63.

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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