1st Global Advisors Inc. lifted its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,836 shares of the company’s stock after acquiring an additional 76 shares during the period. 1st Global Advisors Inc.’s holdings in Beacon Roofing Supply were worth $482,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Beacon Roofing Supply by 3.8% in the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after acquiring an additional 116 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Beacon Roofing Supply by 8.9% in the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after acquiring an additional 316 shares during the last quarter. Amalgamated Bank grew its stake in shares of Beacon Roofing Supply by 5.1% in the second quarter. Amalgamated Bank now owns 7,704 shares of the company’s stock worth $377,000 after acquiring an additional 373 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Beacon Roofing Supply by 1.4% in the second quarter. UBS Asset Management Americas Inc. now owns 29,235 shares of the company’s stock worth $1,433,000 after acquiring an additional 395 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. grew its stake in shares of Beacon Roofing Supply by 8.3% in the second quarter. Bbva Compass Bancshares Inc. now owns 6,448 shares of the company’s stock worth $316,000 after acquiring an additional 495 shares during the last quarter. Institutional investors and hedge funds own 90.92% of the company’s stock.

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Several brokerages have recently issued reports on BECN. SunTrust Banks, Inc. restated a “buy” rating and issued a $55.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, October 2nd. BidaskClub downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Jefferies Group LLC upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $54.00 in a research note on Friday, August 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $58.00 price target on shares of Beacon Roofing Supply in a research note on Monday, July 24th. Finally, KeyCorp upgraded shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $52.73.

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) traded up 1.04% on Tuesday, hitting $53.28. The company’s stock had a trading volume of 120,043 shares. Beacon Roofing Supply, Inc. has a 52 week low of $39.57 and a 52 week high of $53.28. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 31.64 and a beta of 1.32. The stock’s 50-day moving average price is $49.89 and its 200-day moving average price is $48.19.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.27 billion. Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. Equities analysts expect that Beacon Roofing Supply, Inc. will post $2.19 earnings per share for the current fiscal year.

About Beacon Roofing Supply

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.

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

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