53,472 Shares in Beacon Roofing Supply, Inc. (BECN) Obtained by Russell Investments Group Ltd.

53,472 Shares in Beacon Roofing Supply, Inc. (BECN) Obtained by Russell Investments Group Ltd.

Russell Investments Group Ltd. bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, Holdings Channel reports. The fund bought 53,472 shares of the company’s stock, valued at approximately $2,489,000.

Several other large investors have also recently added to or reduced their stakes in BECN. Advisor Group Inc. boosted its stake in Beacon Roofing Supply by 55.5% in the third quarter. Advisor Group Inc. now owns 3,596 shares of the company’s stock valued at $151,000 after buying an additional 1,283 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in Beacon Roofing Supply during the third quarter valued at approximately $273,000. Bell State Bank & Trust boosted its stake in Beacon Roofing Supply by 4.3% in the third quarter. Bell State Bank & Trust now owns 7,578 shares of the company’s stock valued at $319,000 after buying an additional 315 shares during the period. 1st Global Advisors Inc. boosted its stake in Beacon Roofing Supply by 5.0% in the third quarter. 1st Global Advisors Inc. now owns 9,853 shares of the company’s stock valued at $415,000 after buying an additional 466 shares during the period. Finally, Aperio Group LLC boosted its stake in Beacon Roofing Supply by 3.0% in the third quarter. Aperio Group LLC now owns 9,988 shares of the company’s stock valued at $420,000 after buying an additional 295 shares during the period.

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) opened at 49.97 on Tuesday. The company’s 50 day moving average price is $46.02 and its 200-day moving average price is $44.76. The firm has a market capitalization of $3.00 billion, a PE ratio of 29.45 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 52 week low of $38.71 and a 52 week high of $50.61.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1,000 million. Beacon Roofing Supply had a return on equity of 9.99% and a net margin of 2.49%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post $2.34 EPS for the current fiscal year.

Several equities research analysts have recently commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $46.00 target price on shares of Beacon Roofing Supply in a research note on Friday. Seaport Global Securities assumed coverage on Beacon Roofing Supply in a research note on Wednesday, December 7th. They issued a “buy” rating and a $53.00 target price for the company. Royal Bank of Canada lowered their target price on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, November 22nd. Robert W. Baird lowered their target price on Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Tuesday, November 22nd. Finally, Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $51.00.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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