Beacon Roofing Supply, Inc. (BECN) Stake Maintained by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. held its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,668 shares of the company’s stock at the end of the first quarter. Contravisory Investment Management Inc.’s holdings in Beacon Roofing Supply were worth $180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC raised its position in Beacon Roofing Supply by 10.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 4,211,066 shares of the company’s stock worth $194,004,000 after buying an additional 392,904 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Beacon Roofing Supply by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,296,443 shares of the company’s stock worth $105,799,000 after buying an additional 103,140 shares during the last quarter. BlackRock Fund Advisors raised its position in Beacon Roofing Supply by 2.6% in the third quarter. BlackRock Fund Advisors now owns 1,884,508 shares of the company’s stock worth $79,281,000 after buying an additional 47,928 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in Beacon Roofing Supply by 71.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,691,125 shares of the company’s stock worth $77,910,000 after buying an additional 702,319 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Beacon Roofing Supply by 3.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,590,258 shares of the company’s stock worth $66,902,000 after buying an additional 53,089 shares during the last quarter.

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

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) traded up 0.06% during mid-day trading on Monday, reaching $49.17. 14,073 shares of the company’s stock traded hands. Beacon Roofing Supply, Inc. has a 12-month low of $39.50 and a 12-month high of $50.61. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 28.97 and a beta of 1.31. The firm’s 50 day moving average price is $46.69 and its 200-day moving average price is $44.88.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Beacon Roofing Supply had a net margin of 2.49% and a return on equity of 9.99%. The business earned $1 billion during the quarter, compared to analyst estimates of $1,000 million. During the same period in the prior year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts forecast that Beacon Roofing Supply, Inc. will post $2.34 earnings per share for the current year.

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A number of research analysts recently weighed in on BECN shares. Jefferies Group LLC reissued a “hold” rating and set a $46.00 price target on shares of Beacon Roofing Supply in a research report on Monday, February 6th. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Beacon Roofing Supply presently has an average rating of “Buy” and a consensus target price of $51.00.

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.

5 Day Chart for NASDAQ:BECN

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