O Shaughnessy Asset Management LLC increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 29.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,988 shares of the company’s stock after acquiring an additional 905 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Beacon Roofing Supply were worth $308,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BECN. Advisor Group Holdings Inc. boosted its position in Beacon Roofing Supply by 37.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after acquiring an additional 300 shares during the last quarter. Raymond James & Associates raised its stake in Beacon Roofing Supply by 11.6% during the first quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock worth $797,000 after purchasing an additional 1,397 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Beacon Roofing Supply during the first quarter worth about $317,000. AlphaCrest Capital Management LLC raised its stake in Beacon Roofing Supply by 4.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock worth $419,000 after purchasing an additional 273 shares during the period. Finally, Bank of Montreal Can raised its stake in Beacon Roofing Supply by 27.0% during the first quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock worth $665,000 after purchasing an additional 2,267 shares during the period.
Beacon Roofing Supply Trading Up 0.1 %
Shares of BECN stock opened at $86.85 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. The stock has a market capitalization of $5.51 billion, a P/E ratio of -184.79, a price-to-earnings-growth ratio of 1.49 and a beta of 1.62. The company has a 50 day moving average price of $85.44 and a 200 day moving average price of $80.79. Beacon Roofing Supply, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $90.62.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 EPS. Equities research analysts predict that Beacon Roofing Supply, Inc. will post 7.89 EPS for the current fiscal year.
Insiders Place Their Bets
In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,806 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $88.75, for a total transaction of $160,282.50. Following the completion of the transaction, the insider now owns 11,178 shares in the company, valued at approximately $992,047.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.95% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
BECN has been the topic of a number of analyst reports. Robert W. Baird raised shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $99.00 to $115.00 in a research note on Thursday, February 29th. Stifel Nicolaus lifted their target price on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. StockNews.com raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. TheStreet raised shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. reduced their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.45.
Get Our Latest Stock Report on BECN
Beacon Roofing Supply Company 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.
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