Penn Capital Management Co. Inc. lessened its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 14.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,934 shares of the company’s stock after selling 41,321 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Beacon Roofing Supply were worth $8,737,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Investors Research Corp purchased a new position in Beacon Roofing Supply during the first quarter worth about $29,000. First Personal Financial Services purchased a new position in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $33,000. Quantamental Technologies LLC purchased a new position in shares of Beacon Roofing Supply in the first quarter valued at approximately $63,000. IFP Advisors Inc lifted its stake in Beacon Roofing Supply by 107.6% in the fourth quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $65,000 after acquiring an additional 1,076 shares during the last quarter. Finally, Lloyds Banking Group plc lifted its stake in Beacon Roofing Supply by 81.6% in the fourth quarter. Lloyds Banking Group plc now owns 2,534 shares of the company’s stock worth $80,000 after acquiring an additional 1,139 shares during the last quarter.

In other news, major shareholder Cd&R Investment Associates Ix, acquired 5,609,763 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $33.31 per share, for a total transaction of $186,861,205.53. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Shares of Beacon Roofing Supply stock traded down $0.18 during trading on Wednesday, reaching $38.09. The company’s stock had a trading volume of 1,287 shares, compared to its average volume of 610,144. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 0.83 and a beta of 1.47. Beacon Roofing Supply, Inc. has a fifty-two week low of $24.97 and a fifty-two week high of $46.26. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.27 and a quick ratio of 1.22.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Tuesday, May 7th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.06. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Beacon Roofing Supply had a net margin of 0.41% and a return on equity of 10.76%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.35) EPS. Analysts anticipate that Beacon Roofing Supply, Inc. will post 2.94 earnings per share for the current year.

A number of research analysts recently issued reports on BECN shares. BidaskClub upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Raymond James set a $45.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a report on Friday, February 8th. SunTrust Banks reissued a “buy” rating and set a $44.00 price objective on shares of Beacon Roofing Supply in a report on Friday, February 8th. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Monday, February 4th. Finally, Royal Bank of Canada set a $37.00 price objective on shares of Beacon Roofing Supply and gave the stock a “hold” rating in a report on Friday, February 8th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Hold” and a consensus target price of $40.41.

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Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. 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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