Amalgamated Bank increased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 18.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,055 shares of the company’s stock after buying an additional 1,406 shares during the quarter. Amalgamated Bank’s holdings in Beacon Roofing Supply were worth $577,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. TimesSquare Capital Management LLC lifted its holdings in Beacon Roofing Supply by 108.4% during the third quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock valued at $121,053,000 after purchasing an additional 1,228,625 shares in the last quarter. Bamco Inc. NY purchased a new position in Beacon Roofing Supply during the third quarter valued at approximately $61,982,000. Baird Financial Group Inc. purchased a new position in Beacon Roofing Supply during the fourth quarter valued at approximately $41,928,000. Stephens Investment Management Group LLC purchased a new position in Beacon Roofing Supply during the third quarter valued at approximately $32,333,000. Finally, Davidson Kempner Capital Management LP purchased a new position in Beacon Roofing Supply during the third quarter valued at approximately $25,625,000.
Several brokerages have weighed in on BECN. Wedbush reaffirmed an “outperform” rating and set a $52.00 price target (down previously from $70.00) on shares of Beacon Roofing Supply in a report on Tuesday, February 13th. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Monday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective (up previously from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Citigroup reduced their price objective on shares of Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Finally, BidaskClub cut shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Beacon Roofing Supply currently has a consensus rating of “Buy” and an average target price of $60.45.
Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) opened at $54.13 on Friday. The stock has a market cap of $3,678.05, a P/E ratio of 23.74, a PEG ratio of 0.47 and a beta of 1.42. The company has a current ratio of 4.60, a quick ratio of 3.58 and a debt-to-equity ratio of 1.09. Beacon Roofing Supply, Inc. has a 1 year low of $39.57 and a 1 year high of $66.47.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.14. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Beacon Roofing Supply had a net margin of 3.29% and a return on equity of 9.60%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. sell-side analysts expect that Beacon Roofing Supply, Inc. will post 3.56 EPS for the current 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 other accessories.
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