Renaissance Technologies LLC Increases Stake in Beacon Roofing Supply, Inc. (BECN)

Renaissance Technologies LLC grew its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 30.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 760,457 shares of the company’s stock after buying an additional 176,400 shares during the quarter. Renaissance Technologies LLC owned approximately 1.12% of Beacon Roofing Supply worth $48,487,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in Beacon Roofing Supply by 8.5% during the fourth quarter. BlackRock Inc. now owns 4,740,160 shares of the company’s stock valued at $302,231,000 after acquiring an additional 369,588 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Beacon Roofing Supply by 3.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,505,823 shares of the company’s stock valued at $128,424,000 after purchasing an additional 93,832 shares during the period. TimesSquare Capital Management LLC raised its holdings in shares of 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 during the period. Jennison Associates LLC raised its holdings in shares of Beacon Roofing Supply by 8.9% during the fourth quarter. Jennison Associates LLC now owns 1,833,247 shares of the company’s stock valued at $116,888,000 after purchasing an additional 150,151 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Beacon Roofing Supply by 0.9% during the fourth quarter. Fisher Asset Management LLC now owns 1,702,743 shares of the company’s stock valued at $108,567,000 after purchasing an additional 15,966 shares during the period.

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BECN has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $52.00 target price (down previously from $70.00) on shares of Beacon Roofing Supply in a report on Tuesday, February 13th. Zacks Investment Research lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Monday, January 22nd. Citigroup reduced their price objective on shares of Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. BidaskClub downgraded shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada set a $66.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $60.45.

Shares of Beacon Roofing Supply stock traded down $1.33 on Friday, hitting $53.39. 1,065,869 shares of the company traded hands, compared to its average volume of 607,282. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.58 and a current ratio of 4.60. The stock has a market cap of $3,721.57, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 0.47 and a beta of 1.39. Beacon Roofing Supply, Inc. has a 12-month low of $39.57 and a 12-month high of $66.47.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 8th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.14. The company 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 firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. analysts predict that Beacon Roofing Supply, Inc. will post 3.56 earnings per share for the current year.

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Beacon Roofing Supply Profile

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.

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

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