Deutsche Bank AG increased its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 25.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,866 shares of the company’s stock after purchasing an additional 6,210 shares during the quarter. Deutsche Bank AG’s holdings in Beacon Roofing Supply were worth $2,382,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. raised its stake in shares of Beacon Roofing Supply by 2.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 635,472 shares of the company’s stock valued at $49,039,000 after acquiring an additional 14,065 shares in the last quarter. Headlands Technologies LLC bought a new stake in Beacon Roofing Supply during the 3rd quarter valued at $98,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Beacon Roofing Supply in the 3rd quarter worth $2,082,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Beacon Roofing Supply by 2.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,290 shares of the company’s stock valued at $485,000 after buying an additional 169 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its holdings in shares of Beacon Roofing Supply by 102.4% in the third quarter. Campbell & CO Investment Adviser LLC now owns 55,355 shares of the company’s stock valued at $4,272,000 after acquiring an additional 28,006 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on BECN shares. JPMorgan Chase & Co. dropped their target price 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 lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. 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 report on Tuesday, December 19th. Finally, William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $92.64.
Get Our Latest Report on Beacon Roofing Supply
Insiders Place Their Bets
In other news, insider Jason L. Taylor sold 1,806 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $88.75, for a total transaction of $160,282.50. Following the transaction, the insider now owns 11,178 shares in the company, valued at $992,047.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Stock Up 2.4 %
Shares of BECN stock opened at $87.96 on Friday. The stock’s fifty day moving average price is $85.65 and its 200 day moving average price is $80.42. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.73 and a quick ratio of 1.05. Beacon Roofing Supply, Inc. has a 1-year low of $54.60 and a 1-year high of $89.39. The company has a market cap of $5.57 billion, a price-to-earnings ratio of -82.98, a price-to-earnings-growth ratio of 1.49 and a beta of 1.62.
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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