Pier Capital LLC Has $9.24 Million Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Pier Capital LLC grew its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,954 shares of the company’s stock after acquiring an additional 2,691 shares during the period. Beacon Roofing Supply accounts for 1.3% of Pier Capital LLC’s holdings, making the stock its 26th largest position. Pier Capital LLC owned about 0.15% of Beacon Roofing Supply worth $9,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. FMR LLC increased 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 purchasing an additional 963,633 shares during the period. Janus Henderson Group PLC grew its holdings in Beacon Roofing Supply by 1,449.0% in the 3rd quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock valued at $53,205,000 after buying an additional 575,852 shares in the last quarter. Citigroup Inc. increased its position in Beacon Roofing Supply by 1,192.1% during the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock worth $44,398,000 after buying an additional 473,937 shares during the period. 140 Summer Partners LP acquired a new stake in shares of Beacon Roofing Supply during the third quarter worth $29,343,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at about $24,162,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on BECN shares. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. 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 research note on Tuesday, March 4th. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Finally, Baird R W cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $120.95.

Beacon Roofing Supply Price Performance

Shares of BECN stock opened at $123.82 on Tuesday. The business has a fifty day simple moving average of $117.72 and a 200 day simple moving average of $105.01. The company has a market cap of $7.63 billion, a P/E ratio of 21.17 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, Inc. has a twelve month low of $77.54 and a twelve month high of $123.90.

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 company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal 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.