Russell Investments Group Ltd. bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, Holdings Channel reports. The fund bought 53,472 shares of the company’s stock, valued at approximately $2,489,000.

Several other large investors have also recently added to or reduced their stakes in BECN. Advisor Group Inc. boosted its stake in Beacon Roofing Supply by 55.5% in the third quarter. Advisor Group Inc. now owns 3,596 shares of the company’s stock valued at $151,000 after buying an additional 1,283 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in Beacon Roofing Supply during the third quarter valued at approximately $273,000. Bell State Bank & Trust boosted its stake in Beacon Roofing Supply by 4.3% in the third quarter. Bell State Bank & Trust now owns 7,578 shares of the company’s stock valued at $319,000 after buying an additional 315 shares during the period. 1st Global Advisors Inc. boosted its stake in Beacon Roofing Supply by 5.0% in the third quarter. 1st Global Advisors Inc. now owns 9,853 shares of the company’s stock valued at $415,000 after buying an additional 466 shares during the period. Finally, Aperio Group LLC boosted its stake in Beacon Roofing Supply by 3.0% in the third quarter. Aperio Group LLC now owns 9,988 shares of the company’s stock valued at $420,000 after buying an additional 295 shares during the period.

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) opened at 49.97 on Tuesday. The company’s 50 day moving average price is $46.02 and its 200-day moving average price is $44.76. The firm has a market capitalization of $3.00 billion, a PE ratio of 29.45 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 52 week low of $38.71 and a 52 week high of $50.61.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1,000 million. Beacon Roofing Supply had a return on equity of 9.99% and a net margin of 2.49%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post $2.34 EPS for the current fiscal year.

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Several equities research analysts have recently commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $46.00 target price on shares of Beacon Roofing Supply in a research note on Friday. Seaport Global Securities assumed coverage on Beacon Roofing Supply in a research note on Wednesday, December 7th. They issued a “buy” rating and a $53.00 target price for the company. Royal Bank of Canada lowered their target price on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, November 22nd. Robert W. Baird lowered their target price on Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Tuesday, November 22nd. Finally, Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $51.00.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

5 Day Chart for NASDAQ:BECN

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