Kendall Capital Management Lowers Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Kendall Capital Management trimmed its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 27.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,185 shares of the company’s stock after selling 1,200 shares during the quarter. Kendall Capital Management’s holdings in Beacon Roofing Supply were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC raised its stake in shares of Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after acquiring an additional 963,633 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Beacon Roofing Supply by 1,449.0% in the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after purchasing an additional 575,852 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Beacon Roofing Supply by 1,192.1% in the third quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock worth $44,398,000 after purchasing an additional 473,937 shares during the last quarter. 140 Summer Partners LP bought a new stake in Beacon Roofing Supply in the third quarter valued at $29,343,000. Finally, Raymond James Financial Inc. bought a new stake in Beacon Roofing Supply in the fourth quarter valued at $24,162,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $111.10 on Monday. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $121.42. The stock has a market cap of $6.84 billion, a PE ratio of 18.99 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. The company’s fifty day moving average price is $113.67 and its 200-day moving average price is $102.39.

Beacon Roofing Supply (NASDAQ:BECN) last announced 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 business had revenue of $2.40 billion for 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%. On average, equities analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BECN. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Stephens reiterated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Robert W. Baird lifted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, StockNews.com began coverage on shares of Beacon Roofing Supply in a report on Sunday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Hold” and an average price target of $119.95.

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.