Duality Advisers LP lifted its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 224.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,227 shares of the company’s stock after purchasing an additional 19,530 shares during the period. Duality Advisers LP’s holdings in Beacon Roofing Supply were worth $2,178,000 as of its most recent SEC filing.
Get Beacon Roofing Supply alerts:
Sign Up
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BECN. Advisor Group Holdings Inc. raised 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 position 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 acquiring an additional 1,397 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Beacon Roofing Supply during the first quarter worth about $317,000. AlphaCrest Capital Management LLC raised its position 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 acquiring an additional 273 shares during the last quarter. Finally, Bank of Montreal Can raised its position 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 acquiring an additional 2,267 shares during the last quarter.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $91.00 to $94.00 in a research report on Thursday, October 5th. William Blair raised shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. StockNews.com raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Saturday, January 6th. Stifel Nicolaus boosted 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, Jefferies Financial Group cut their price objective on shares of Beacon Roofing Supply from $92.00 to $89.00 in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.64.
Get Our Latest Report on BECN
Beacon Roofing Supply Price Performance
Shares of BECN stock opened at $85.11 on Friday. The firm has a fifty day simple moving average of $83.76 and a 200-day simple moving average of $80.27. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.05 and a current ratio of 1.73. Beacon Roofing Supply, Inc. has a twelve month low of $52.52 and a twelve month high of $89.39.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last announced its earnings results on Thursday, November 2nd. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.31. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.59 billion. Beacon Roofing Supply had a net margin of 4.67% and a return on equity of 25.71%. Equities analysts expect that Beacon Roofing Supply, Inc. will post 7.52 EPS for the current year.
Insider Activity at Beacon Roofing Supply
In related news, insider Jason L. Taylor sold 1,806 shares of the company’s 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 sale, the insider now directly owns 11,178 shares of the company’s stock, valued at $992,047.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.95% of the stock is currently owned by corporate insiders.
Beacon Roofing Supply Company Profile
(Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in 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. It 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
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Beacon Roofing Supply, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Beacon Roofing Supply wasn’t on the list.
While Beacon Roofing Supply currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
www.marketbeat.com
https://www.marketbeat.com/instant-alerts/nasdaq-becn-sec-filing-2024-01-20/
