Ironwood Investment Management LLC Has $2.48 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Ironwood Investment Management LLC increased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,455 shares of the company’s stock after purchasing an additional 353 shares during the quarter. Beacon Roofing Supply makes up 1.2% of Ironwood Investment Management LLC’s portfolio, making the stock its 21st biggest position. Ironwood Investment Management LLC’s holdings in Beacon Roofing Supply were worth $2,484,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP grew its position in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Beacon Roofing Supply during the 3rd quarter worth $28,000. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply during the 4th quarter worth $31,000. PNC Financial Services Group Inc. raised its position in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after acquiring an additional 163 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company’s stock valued at $140,000 after purchasing an additional 196 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BECN. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Robert W. Baird boosted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research report on Sunday, March 9th. They issued a “sell” rating on the stock. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Finally, Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $119.95.

Beacon Roofing Supply Trading Up 0.3 %

BECN opened at $118.34 on Friday. The stock has a market capitalization of $7.29 billion, a P/E ratio of 20.23 and a beta of 1.63. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $121.42. The firm’s fifty day simple moving average is $115.09 and its 200 day simple moving average is $103.14.

Beacon Roofing Supply (NASDAQ:BECN) last issued 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 business had revenue of $2.40 billion for 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, research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS 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.