Ameriprise Financial Inc. lessened its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 6.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 514,999 shares of the company’s stock after selling 36,829 shares during the quarter. Ameriprise Financial Inc.’s holdings in Beacon Roofing Supply were worth $39,742,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in shares of Beacon Roofing Supply by 49.4% in the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after buying an additional 161 shares in the last quarter. Laurel Wealth Advisors Inc. lifted its stake in shares of Beacon Roofing Supply by 2.9% in the fourth quarter. Laurel Wealth Advisors Inc. now owns 5,940 shares of the company’s stock worth $314,000 after buying an additional 166 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Beacon Roofing Supply by 2.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,290 shares of the company’s stock worth $485,000 after buying an additional 169 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Beacon Roofing Supply by 5.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,209 shares of the company’s stock worth $325,000 after buying an additional 200 shares in the last quarter. Finally, First Manhattan Co. lifted its stake in shares of Beacon Roofing Supply by 4.3% in the first quarter. First Manhattan Co. now owns 5,633 shares of the company’s stock worth $333,000 after buying an additional 233 shares in the last quarter.
Beacon Roofing Supply Stock Up 1.2 %
BECN opened at $86.37 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30. Beacon Roofing Supply, Inc. has a 1-year low of $54.60 and a 1-year high of $90.62. The company has a market capitalization of $5.48 billion, a PE ratio of -183.77, a PEG ratio of 1.53 and a beta of 1.62. The firm’s 50 day simple moving average is $85.41 and its two-hundred day simple moving average is $80.98.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the business posted $1.18 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. As a group, equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.82 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th. William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Stifel Nicolaus increased their price objective on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $99.00 to $115.00 in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of “Moderate Buy” and an average price target of $94.45.
Get Our Latest Stock Report on Beacon Roofing Supply
Insiders Place Their Bets
In other news, insider Jason L. Taylor sold 1,806 shares of the stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $88.75, for a total value of $160,282.50. Following the completion of the sale, the insider now directly owns 11,178 shares of the company’s stock, valued at $992,047.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.
Beacon Roofing Supply Profile
(Free Report)
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.
Further Reading
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