Amundi Sells 1,266 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Amundi lowered its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 13.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,811 shares of the company’s stock after selling 1,266 shares during the period. Amundi’s holdings in Beacon Roofing Supply were worth $810,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BECN. KBC Group NV grew its holdings in shares of Beacon Roofing Supply by 20.8% in the third quarter. KBC Group NV now owns 1,728 shares of the company’s stock worth $149,000 after acquiring an additional 297 shares during the period. Natixis Advisors LLC grew its holdings in shares of Beacon Roofing Supply by 21.1% in the third quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock worth $18,528,000 after acquiring an additional 37,347 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Beacon Roofing Supply by 1.4% in the third quarter. Thrivent Financial for Lutherans now owns 162,694 shares of the company’s stock worth $14,061,000 after acquiring an additional 2,284 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Beacon Roofing Supply in the third quarter worth $4,331,000. Finally, Intech Investment Management LLC bought a new stake in Beacon Roofing Supply during the third quarter valued at about $1,441,000. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock opened at $121.53 on Thursday. The stock’s 50-day simple moving average is $116.16 and its 200-day simple moving average is $103.97. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $122.22. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 20.77 and a beta of 1.63. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations 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, analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BECN has been the subject of several recent research reports. StockNews.com initiated coverage on Beacon Roofing Supply in a report on Monday. They set a “sell” rating for the company. BMO Capital Markets cut their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price target for the company from $131.00 to $122.55 in a report on Friday, February 7th. Finally, Robert W. Baird boosted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Hold” and a consensus price target of $119.95.

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.