Park Presidio Capital LLC Purchases Shares of 320,000 Beacon Roofing Supply, Inc. (BECN)
Park Presidio Capital LLC purchased a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the fourth quarter, Holdings Channel reports. The fund purchased 320,000 shares of the company’s stock, valued at approximately $10,150,000. Beacon Roofing Supply makes up about 1.3% of Park Presidio Capital LLC’s investment portfolio, making the stock its 16th biggest position.
Other institutional investors and hedge funds have also bought and sold shares of the company. Csenge Advisory Group bought a new stake in shares of Beacon Roofing Supply during the third quarter worth approximately $27,000. First Personal Financial Services bought a new stake in shares of Beacon Roofing Supply during the fourth quarter worth approximately $33,000. Paradigm Asset Management Co. LLC bought a new stake in shares of Beacon Roofing Supply during the third quarter worth approximately $51,000. IFP Advisors Inc raised its stake in shares of Beacon Roofing Supply by 107.6% during the fourth quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $65,000 after buying an additional 1,076 shares during the last quarter. Finally, Lloyds Banking Group plc raised its stake in shares of Beacon Roofing Supply by 81.6% during the fourth quarter. Lloyds Banking Group plc now owns 2,534 shares of the company’s stock worth $80,000 after buying an additional 1,139 shares during the last quarter.
A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Wedbush downgraded shares of Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and set a $30.00 price target for the company. in a research note on Friday, December 14th. Longbow Research downgraded shares of Beacon Roofing Supply from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Wednesday, November 28th. SunTrust Banks reaffirmed a “buy” rating and issued a $44.00 target price on shares of Beacon Roofing Supply in a research note on Friday, February 8th. Finally, Raymond James set a $45.00 target price on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research note on Friday, February 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. Beacon Roofing Supply presently has an average rating of “Hold” and a consensus price target of $40.29.
Shares of NASDAQ:BECN opened at $34.62 on Friday. Beacon Roofing Supply, Inc. has a 52 week low of $24.97 and a 52 week high of $55.01. The company has a quick ratio of 1.35, a current ratio of 2.43 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.51 and a beta of 1.44.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 7th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Beacon Roofing Supply had a net margin of 0.43% and a return on equity of 11.19%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 53.5% on a year-over-year basis. On average, research analysts anticipate that Beacon Roofing Supply, Inc. will post 3.13 EPS for the current year.
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About Beacon Roofing Supply
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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