Amalgamated Bank grew its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 18.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,055 shares of the company’s stock after purchasing an additional 1,406 shares during the period. Amalgamated Bank’s holdings in Beacon Roofing Supply were worth $577,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Stansberry Asset Management LLC acquired a new stake in Beacon Roofing Supply during the fourth quarter worth about $8,166,000. EAM Investors LLC purchased a new position in Beacon Roofing Supply during the fourth quarter worth approximately $2,654,000. Martingale Asset Management L P purchased a new position in Beacon Roofing Supply during the fourth quarter worth approximately $384,000. Ramsey Quantitative Systems purchased a new position in Beacon Roofing Supply during the fourth quarter worth approximately $279,000. Finally, Baird Financial Group Inc. purchased a new position in Beacon Roofing Supply during the fourth quarter worth approximately $41,928,000.
A number of equities analysts have issued reports on the company. BidaskClub upgraded Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a research report on Saturday, March 24th. Wedbush reiterated an “outperform” rating and set a $52.00 price target (down previously from $70.00) on shares of Beacon Roofing Supply in a research report on Tuesday, February 13th. Royal Bank of Canada set a $66.00 price target on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Friday, February 9th. Citigroup lowered their price target on 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, Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Beacon Roofing Supply has a consensus rating of “Buy” and an average price target of $60.45.
Shares of NASDAQ BECN traded down $1.33 during midday trading on Friday, hitting $53.39. The stock had a trading volume of 1,071,233 shares, compared to its average volume of 607,282. The company has a market cap of $3,631.11, a PE ratio of 24.49, a price-to-earnings-growth ratio of 0.46 and a beta of 1.39. Beacon Roofing Supply, Inc. has a 1 year low of $39.57 and a 1 year high of $66.47. The company has a debt-to-equity ratio of 1.09, a current ratio of 4.60 and a quick ratio of 3.58.
Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 8th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.14. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. Beacon Roofing Supply had a return on equity of 9.60% and a net margin of 3.29%. The business’s quarterly revenue 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. equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 3.56 EPS for the current fiscal 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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