Citigroup Inc. lowered its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 76.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,421 shares of the company’s stock after selling 31,448 shares during the period. Citigroup Inc.’s holdings in Beacon Roofing Supply were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its stake in Beacon Roofing Supply by 80.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 26,584 shares of the company’s stock valued at $2,051,000 after purchasing an additional 11,828 shares during the last quarter. Boston Partners boosted its stake in Beacon Roofing Supply by 19.4% during the 3rd quarter. Boston Partners now owns 435,029 shares of the company’s stock valued at $33,250,000 after purchasing an additional 70,554 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Beacon Roofing Supply during the 3rd quarter valued at $1,201,000. Duality Advisers LP boosted its stake in Beacon Roofing Supply by 224.6% during the 3rd quarter. Duality Advisers LP now owns 28,227 shares of the company’s stock valued at $2,178,000 after purchasing an additional 19,530 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Beacon Roofing Supply by 71.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 23,684 shares of the company’s stock valued at $1,978,000 after purchasing an additional 9,839 shares during the last quarter.
Beacon Roofing Supply Price Performance
Shares of Beacon Roofing Supply stock opened at $85.89 on Friday. Beacon Roofing Supply, Inc. has a one year low of $54.60 and a one year high of $90.62. The stock’s fifty day moving average is $85.66 and its 200 day moving average is $80.56. The stock has a market cap of $5.45 billion, a P/E ratio of -182.74, a P/E/G ratio of 1.52 and a beta of 1.62. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.05 and a current ratio of 1.85.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business posted $1.18 earnings per share. Beacon Roofing Supply’s revenue for the quarter was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.83 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have commented on BECN. Stifel Nicolaus increased their target price on Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Finally, StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Beacon Roofing Supply has an average rating of “Moderate Buy” and an average target price of $94.45.
Check Out Our Latest Stock Report on Beacon Roofing Supply
Insider Buying and Selling
In related news, insider Jason L. Taylor sold 1,806 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was 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 of the company’s stock, valued at approximately $992,047.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.95% of the stock is owned by 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.
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