Fisher Asset Management LLC reduced its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – free report) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,277,618 shares of the company after selling 33,780 shares during the period. Fisher Asset Management LLC owned 1.99% of Beacon Roofing Supply worth $75,188,000 at the end of the most recent quarter.
Several other hedge funds have also recently changed their BECN holdings. Advisor Group Holdings Inc. increased its stake 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 purchasing an additional 300 shares during the period. Raymond James & Associates increased its stake in Beacon Roofing Supply by 11.6% during the first quarter. Raymond James & Associates now owns 13,449 shares of the company, valued at $797,000, after purchasing an additional 1,397 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Beacon Roofing Supply for approximately $317,000 during the first quarter. AlphaCrest Capital Management LLC increased its stake 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 valued at $419,000 after purchasing an additional 273 shares during the period. Finally, Bank of Montreal Can increased its stake 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, valued at $665,000, after purchasing an additional 2,267 shares during the period.
Changes in analyst ratings
Several research companies have recently commented on BECN. Jefferies Financial Group raised its target price on Beacon Roofing Supply to $88.00 from $75.00 and gave the stock a hold rating in a report on Thursday, July 13. Stephens lowered its price target on Beacon Roofing Supply shares from $70.00 to $68.00 in a research report on Monday, May 8. TheStreet downgraded shares of Beacon Roofing Supply from a “b” rating to a “c” rating in a research report on Friday, May 5. Robert W. Baird raised his price target on shares of Beacon Roofing Supply from $76.00 to $95.00 in a research report on Monday, July 10. Finally, BMO Capital Markets raised its price target on shares of Beacon Roofing Supply from $75.00 to $90.00 in a research report on Friday, June 16. One equities research analyst has assigned a sell rating to the stock, five have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $82.33, according to MarketBeat.com.
Insider Buying and Selling at Beacon Roofing Supply
In other news from Beacon Roofing Supply, director Stuart A. Randle sold 10,299 shares of the company’s stock in a transaction that took place on Thursday, June 8th. The shares sold at an average price of $72.43 for a total transaction of $745,956.57. Following the closing of the transaction, the Director now directly owns 31,417 shares of the Company, valued at $2,275,533.31. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In other news from Beacon Roofing Supply, director Stuart A. Randle sold 10,299 shares of the company’s stock in a transaction that took place on Thursday, June 8th. The shares sold at an average price of $72.43 for a total transaction of $745,956.57. Following the closing of the transaction, the Director now directly owns 31,417 shares of the Company, valued at $2,275,533.31. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. Also on Friday, April 28, major shareholder Cd&R Investment Associates Ix acquired 99,880 shares in a transaction. The shares were purchased at an average price of $60.07 per share for a total value of $5,999,791.60. Following the closing of the transaction, the insider now owns 15,171,964 shares of the company, valued at $911,379,877.48. The disclosure for this purchase can be found here. Insiders sold a total of 21,910 shares of the company worth $1,558,209 over the past three months. Company insiders own 1.30% of the company’s stock.
Beacon Roofing Supply inventory down 0.9%
NASDAQ BECN opened at $84.40 on Friday. The company has a current ratio of 2.07, a short-term ratio of 1.09 and a debt-to-equity ratio of 1.00. Beacon Roofing Supply, Inc. has a 1 year low of $50.42 and a 1 year high of $85.85. The company has a 50-day moving average of $75.30 and a 200-day moving average of $64.37. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 16.23 and a beta of 1.64.
Beacon Roofing Supply (NASDAQ:BECN – Get your free report) last released its quarterly results on Thursday, May 4th. The company reported earnings per share of $0.67 for the quarter, beating analyst consensus estimates of $0.61 by $0.06. Beacon Roofing Supply had a net margin of 5.01% and a return on equity of 27.52%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. On average, equities analysts expect Beacon Roofing Supply, Inc. to report earnings per share of 6.55 for the current fiscal year.
About Beacon Roofing Supply
(Free Report)
Beacon Roofing Supply, Inc., together with its subsidiaries, is engaged in the distribution of residential and non-residential roofing materials and ancillary building products to contractors, home builders, builders, lumber yards and retailers throughout the United States and Canada. It offers pitched roof and flat roof products; gutters and siding; building materials such as lumber and composites, skylights and windows, plywood and OSB, decking and railings, and HVAC products; and foam board, spray foam, rolls, batts, mineral wool, fiberglass and commercial insulation products, as well as radiant barriers and blown insulation and appliances.
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