Contravisory Investment Management Inc. Purchases Shares of 4,103 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Contravisory Investment Management Inc. purchased a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,103 shares of the company’s stock, valued at approximately $165,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in Beacon Roofing Supply during the 3rd quarter valued at approximately $93,000. Neo Ivy Capital Management purchased a new position in shares of Beacon Roofing Supply during the third quarter worth about $173,000. GSA Capital Partners LLP purchased a new position in shares of Beacon Roofing Supply during the third quarter worth about $209,000. Strs Ohio purchased a new position in shares of Beacon Roofing Supply during the third quarter worth about $257,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Beacon Roofing Supply by 23.8% during the third quarter. Nisa Investment Advisors LLC now owns 8,330 shares of the company’s stock worth $259,000 after buying an additional 1,600 shares during the last quarter.

BECN stock opened at $42.92 on Thursday. The firm has a 50 day moving average of $39.55 and a 200-day moving average of $33.67. Beacon Roofing Supply, Inc. has a 12-month low of $11.66 and a 12-month high of $44.33. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 1.56. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -26.01 and a beta of 1.97.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Wednesday, November 18th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.33. Beacon Roofing Supply had a negative net margin of 1.16% and a positive return on equity of 10.89%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the firm earned $1.04 EPS. Sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 2.97 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on BECN shares. Royal Bank of Canada raised their price target on Beacon Roofing Supply from $26.00 to $33.00 and gave the stock an “underperform” rating in a report on Friday, November 20th. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 6th. BidaskClub raised Beacon Roofing Supply from a “sell” rating to a “hold” rating in a report on Thursday, December 10th. Loop Capital lifted their price objective on Beacon Roofing Supply from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, November 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Beacon Roofing Supply from $41.00 to $44.00 in a report on Tuesday, December 22nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $33.82.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, and retailers. 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 solar systems.

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

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