Loomis Sayles & Co. L P Purchases 35,512 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Loomis Sayles & Co. L P increased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 379,145 shares of the company’s stock after acquiring an additional 35,512 shares during the period. Loomis Sayles & Co. L P owned about 0.61% of Beacon Roofing Supply worth $38,514,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Equitable Trust Co. boosted its position in Beacon Roofing Supply by 1.7% in the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after purchasing an additional 122 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after buying an additional 163 shares during the last quarter. Cornerstone Investment Partners LLC grew its position in Beacon Roofing Supply by 3.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock valued at $480,000 after buying an additional 166 shares during the period. HighTower Advisors LLC increased its holdings in Beacon Roofing Supply by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock worth $234,000 after buying an additional 181 shares during the last quarter. Finally, Principal Securities Inc. raised its position in Beacon Roofing Supply by 16.5% in the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock worth $140,000 after acquiring an additional 196 shares during the period. 98.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BECN. BMO Capital Markets reduced their target price on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their target price for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Baird R W cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Finally, Raymond James downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $123.86 on Friday. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $124.62. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63. The firm’s 50 day simple moving average is $118.34 and its 200 day simple moving average is $105.57.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. As a group, analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.