California State Teachers Retirement System lowered its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 7.8% during the third quarter, Holdings Channel reports. The fund owned 56,765 shares of the company’s stock after selling 4,797 shares during the quarter. California State Teachers Retirement System’s holdings in Beacon Roofing Supply were worth $4,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust acquired a new stake in Beacon Roofing Supply during the second quarter valued at $27,000. Exchange Traded Concepts LLC grew its position in Beacon Roofing Supply by 63.6% during the third quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after buying an additional 325 shares during the period. Advisor Group Holdings Inc. grew 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 valued at $65,000 after buying an additional 300 shares during the period. Headlands Technologies LLC acquired a new stake in Beacon Roofing Supply during the third quarter valued at $98,000. Finally, CI Investments Inc. acquired a new stake in Beacon Roofing Supply during the third quarter valued at $157,000.
Analyst Ratings Changes
Several analysts recently commented on the stock. Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and raised their price target for the company from $99.00 to $115.00 in a research report on Thursday, February 29th. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. StockNews.com raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, 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 report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $94.45.
Check Out Our Latest Report on Beacon Roofing Supply
Insider Buying and Selling at Beacon Roofing Supply
In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,806 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $88.75, for a total value of $160,282.50. Following the transaction, the insider now directly 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 accessible through the SEC website. 0.95% of the stock is currently owned by company insiders.
Beacon Roofing Supply Stock Performance
BECN opened at $86.85 on Friday. The firm has a market capitalization of $5.51 billion, a PE ratio of -184.79, a PEG ratio of 1.53 and a beta of 1.62. Beacon Roofing Supply, Inc. has a twelve month low of $54.60 and a twelve month high of $90.62. The firm’s 50-day moving average price is $85.44 and its 200 day moving average price is $80.82. 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 (NASDAQ:BECN – Get Free Report) last posted its 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). The firm 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 business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. As a group, sell-side analysts expect that Beacon Roofing Supply, Inc. will post 7.82 EPS for the current fiscal year.
About Beacon Roofing Supply
(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.
Read More
Want to see what other hedge funds are holding BECN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report).
Receive News & Ratings for Beacon Roofing Supply Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Beacon Roofing Supply and related companies with MarketBeat.com’s FREE daily email newsletter.
www.defenseworld.net
https://www.defenseworld.net/2024/03/10/beacon-roofing-supply-inc-nasdaqbecn-shares-sold-by-california-state-teachers-retirement-system.html
