Atika Capital Management LLC Has $6.34 Million Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Atika Capital Management LLC reduced its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,400 shares of the company’s stock after selling 3,600 shares during the quarter. Atika Capital Management LLC owned 0.10% of Beacon Roofing Supply worth $6,339,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BECN. Norges Bank bought a new position in Beacon Roofing Supply in the 4th quarter valued at about $94,573,000. Raymond James Financial Inc. bought a new position in Beacon Roofing Supply in the fourth quarter valued at approximately $24,162,000. Blue Grotto Capital LLC acquired a new position in Beacon Roofing Supply during the fourth quarter valued at approximately $23,726,000. Barclays PLC boosted its holdings in shares of Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after purchasing an additional 89,222 shares in the last quarter. Finally, Pier Capital LLC bought a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at $7,629,000. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of BECN opened at $122.43 on Friday. The business has a 50-day moving average of $119.17 and a 200-day moving average of $107.31. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $123.90. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 20.93 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. As a group, equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Baird R W lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Loop Capital reissued a “hold” rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Royal Bank of Canada cut shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $124.35 in a research note on Wednesday. Finally, Raymond James cut Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus price target of $122.10.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.