Geode Capital Management LLC grew its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 652,642 shares of the company’s stock after purchasing an additional 77,671 shares during the period. Geode Capital Management LLC owned about 0.96% of Beacon Roofing Supply worth $41,612,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $130,000. Zions Bancorporation acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth approximately $124,000. CAPROCK Group Inc. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $212,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Beacon Roofing Supply by 95.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,861 shares of the company’s stock worth $246,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $256,000.
Several analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $52.00 price target (down previously from $70.00) on shares of Beacon Roofing Supply in a research report on Tuesday, February 13th. Zacks Investment Research lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target (up previously from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Citigroup reduced their price target on shares of Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Finally, BidaskClub lowered shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $60.45.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.14. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. Beacon Roofing Supply had a net margin of 3.29% and a return on equity of 9.60%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 EPS. equities analysts expect that Beacon Roofing Supply, Inc. will post 3.56 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This article was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://stocknewstimes.com/2018/03/19/geode-capital-management-llc-has-41-61-million-holdings-in-beacon-roofing-supply-inc-becn.html.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.
Want to see what other hedge funds are holding BECN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beacon Roofing Supply, Inc. (NASDAQ:BECN).
Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.