Silvant Capital Management LLC Buys New Position in Beacon Roofing Supply, Inc. (BECN)

Silvant Capital Management LLC purchased a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,732 shares of the company’s stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lisanti Capital Growth LLC boosted its position in shares of Beacon Roofing Supply by 2.6% during the fourth quarter. Lisanti Capital Growth LLC now owns 48,305 shares of the company’s stock valued at $3,080,000 after purchasing an additional 1,220 shares in the last quarter. Amalgamated Bank boosted its position in shares of Beacon Roofing Supply by 18.4% during the fourth quarter. Amalgamated Bank now owns 9,055 shares of the company’s stock valued at $577,000 after purchasing an additional 1,406 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Beacon Roofing Supply by 42.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,940 shares of the company’s stock valued at $379,000 after purchasing an additional 1,757 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Beacon Roofing Supply by 0.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 396,011 shares of the company’s stock valued at $25,250,000 after purchasing an additional 1,785 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Beacon Roofing Supply by 95.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,861 shares of the company’s stock valued at $246,000 after purchasing an additional 1,886 shares in the last quarter.

Beacon Roofing Supply opened at $40.27 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.13 and a current ratio of 2.18. Beacon Roofing Supply, Inc. has a 12 month low of $38.71 and a 12 month high of $66.47. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 0.39 and a beta of 1.40.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Tuesday, May 8th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.26). Beacon Roofing Supply had a return on equity of 8.11% and a net margin of 1.80%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm posted ($0.04) earnings per share. The company’s revenue was up 64.1% compared to the same quarter last year. research analysts predict that Beacon Roofing Supply, Inc. will post 3.46 EPS for the current year.

BECN has been the topic of several research reports. Zacks Investment Research lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 22nd. BidaskClub lowered Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 14th. Royal Bank of Canada set a $66.00 price target on Beacon Roofing Supply and gave the company a “buy” rating in a research report on Friday, February 9th. Wedbush upgraded Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $70.00 in a research report on Tuesday, February 13th. Finally, Citigroup dropped 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.30.

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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