Pictet Asset Management Holding SA Sells 156 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Pictet Asset Management Holding SA lowered its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,779 shares of the company’s stock after selling 156 shares during the period. Pictet Asset Management Holding SA’s holdings in Beacon Roofing Supply were worth $892,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BECN. Nomura Asset Management Co. Ltd. increased its holdings in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after buying an additional 150 shares during the period. Norges Bank bought a new position in Beacon Roofing Supply in the fourth quarter valued at approximately $94,573,000. Blair William & Co. IL raised its position in Beacon Roofing Supply by 4.5% during the fourth quarter. Blair William & Co. IL now owns 22,333 shares of the company’s stock valued at $2,269,000 after purchasing an additional 956 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in Beacon Roofing Supply by 10.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 379,145 shares of the company’s stock worth $38,514,000 after purchasing an additional 35,512 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Beacon Roofing Supply by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 395,121 shares of the company’s stock valued at $40,136,000 after purchasing an additional 38,199 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BECN. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Robert W. Baird raised their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $124.00 to $124.35 in a report on Wednesday, April 2nd. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Finally, Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $122.10.

Beacon Roofing Supply Stock Down 1.0 %

Shares of NASDAQ:BECN opened at $122.43 on Monday. The firm has a market cap of $7.56 billion, a P/E ratio of 20.93 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $123.90. The business has a fifty day simple moving average of $119.17 and a 200 day simple moving average of $107.61. 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 issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share 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.