Principal Securities Inc. Buys 196 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Principal Securities Inc. increased its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 16.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,381 shares of the company’s stock after buying an additional 196 shares during the quarter. Principal Securities Inc.’s holdings in Beacon Roofing Supply were worth $140,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Quarry LP increased its stake in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Blue Trust Inc. lifted its position in Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Beacon Roofing Supply during the 3rd quarter worth about $28,000. Huntington National Bank increased its position in Beacon Roofing Supply by 14.1% in the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after acquiring an additional 206 shares in the last quarter. Finally, KBC Group NV increased its position in Beacon Roofing Supply by 20.8% in the 3rd quarter. KBC Group NV now owns 1,728 shares of the company’s stock valued at $149,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BECN. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. BMO Capital Markets lifted their price objective on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Royal Bank of Canada boosted their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $120.17.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $116.07 on Wednesday. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $121.42. The stock has a market cap of $7.15 billion, a PE ratio of 19.84 and a beta of 1.62. The firm has a 50-day moving average of $111.72 and a 200-day moving average of $100.94. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

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.