Charles Schwab Investment Management Inc. Has $62.49 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Charles Schwab Investment Management Inc. grew its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 615,174 shares of the company’s stock after buying an additional 11,426 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.99% of Beacon Roofing Supply worth $62,489,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth about $1,441,000. Barclays PLC increased its position in shares of Beacon Roofing Supply by 272.0% during the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after purchasing an additional 89,222 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Beacon Roofing Supply by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock worth $103,011,000 after purchasing an additional 20,372 shares in the last quarter. Choreo LLC increased its position in shares of Beacon Roofing Supply by 30.6% during the 4th quarter. Choreo LLC now owns 10,183 shares of the company’s stock worth $1,014,000 after purchasing an additional 2,383 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Beacon Roofing Supply by 16.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company’s stock worth $30,849,000 after purchasing an additional 49,902 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BECN. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Sunday. They issued a “sell” rating for the company. Stephens restated an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of “Hold” and an average target price of $119.95.

Beacon Roofing Supply Stock Down 0.4 %

Shares of NASDAQ BECN opened at $118.70 on Thursday. The firm has a market capitalization of $7.31 billion, a PE ratio of 20.29 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 1 year low of $77.54 and a 1 year high of $121.42. The firm’s 50-day moving average is $114.40 and its 200-day moving average is $102.92.

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