Vontobel Holding Ltd. Sells 3,244 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Vontobel Holding Ltd. lowered its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 31.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,135 shares of the company’s stock after selling 3,244 shares during the quarter. Vontobel Holding Ltd.’s holdings in Beacon Roofing Supply were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of BECN. FMR LLC grew its holdings in Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after purchasing an additional 963,633 shares during the period. State Street Corp lifted its stake in shares of Beacon Roofing Supply by 1.1% in the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock valued at $127,182,000 after purchasing an additional 15,505 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Beacon Roofing Supply by 0.3% in the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock valued at $85,887,000 after purchasing an additional 2,607 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Beacon Roofing Supply by 2.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company’s stock worth $100,076,000 after acquiring an additional 22,122 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Beacon Roofing Supply by 1,449.0% during the 3rd quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after acquiring an additional 575,852 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com assumed coverage on Beacon Roofing Supply in a research note on Thursday, February 13th. They set a “sell” rating on the stock. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Stephens reissued an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Finally, BMO Capital Markets upped their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and a consensus price target of $120.17.

Beacon Roofing Supply Trading Up 0.4 %

Shares of Beacon Roofing Supply stock opened at $119.21 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $121.42. The company has a market capitalization of $7.34 billion, a P/E ratio of 20.38 and a beta of 1.62. The business has a 50 day moving average price of $110.86 and a 200 day moving average price of $99.86.

Beacon Roofing Supply 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.