Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,542 shares of the company’s stock, valued at approximately $385,000.
Other institutional investors have also bought and sold shares of the company. Eagle Asset Management Inc. boosted its position in Beacon Roofing Supply by 3.6% during the first quarter. Eagle Asset Management Inc. now owns 140,237 shares of the company’s stock valued at $8,252,000 after acquiring an additional 4,935 shares during the last quarter. Acrisure Capital Management LLC bought a new stake in Beacon Roofing Supply during the fourth quarter valued at $506,000. Clayton Dubilier & Rice LLC boosted its position in Beacon Roofing Supply by 0.7% during the first quarter. Clayton Dubilier & Rice LLC now owns 15,094,980 shares of the company’s stock valued at $888,340,000 after acquiring an additional 111,593 shares during the last quarter. Great Lakes Advisors LLC boosted its position in shares of Beacon Roofing Supply by 2.4% during the 4th quarter. Great Lakes Advisors LLC now owns 186,485 shares of the company’s stock worth $9,845,000 after purchasing an additional 4,325 shares in the last quarter. Finally, Caprock Group LLC bought a new position in shares of Beacon Roofing Supply during the 1st quarter worth about $507,000.
Beacon Roofing Supply Price Performance
Shares of NASDAQ BECN opened at $75.87 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.00 and a current ratio of 1.69. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.69 and a beta of 1.65. Beacon Roofing Supply, Inc. has a fifty-two week low of $50.42 and a fifty-two week high of $87.46. The firm’s 50-day simple moving average is $82.30 and its 200 day simple moving average is $69.31.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.27 by $0.39. Beacon Roofing Supply had a net margin of 4.69% and a return on equity of 25.15%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.50 billion. As a group, research analysts anticipate that Beacon Roofing Supply, Inc. will post 6.91 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 8,611 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $72.95, for a total transaction of $628,172.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Christopher Carl Nelson sold 8,611 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $72.95, for a total transaction of $628,172.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stuart A. Randle sold 10,299 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $72.43, for a total transaction of $745,956.57. Following the sale, the director now owns 31,417 shares of the company’s stock, valued at approximately $2,275,533.31. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on BECN. Raymond James increased their price objective on shares of Beacon Roofing Supply from $75.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $76.00 to $95.00 in a research report on Monday, July 10th. Loop Capital increased their price objective on shares of Beacon Roofing Supply from $76.00 to $84.00 in a research report on Friday, June 9th. TheStreet cut shares of Beacon Roofing Supply from a “b” rating to a “c” rating in a research report on Friday, May 5th. Finally, Jefferies Financial Group increased their price objective on shares of Beacon Roofing Supply from $75.00 to $88.00 and gave the stock a “hold” rating in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of “Hold” and an average price target of $86.80.
Check Out Our Latest Analysis on Beacon Roofing Supply
Beacon Roofing Supply 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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