Hsbc Holdings PLC increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 145.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,186 shares of the company’s stock after buying an additional 44,564 shares during the quarter. Hsbc Holdings PLC’s holdings in Beacon Roofing Supply were worth $5,834,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new position in Beacon Roofing Supply during the second quarter worth about $27,000. Exchange Traded Concepts LLC lifted 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 worth $65,000 after buying an additional 325 shares during the period. Advisor Group Holdings Inc. lifted 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 worth $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 worth about $98,000. Finally, Osaic Holdings Inc. increased its stake in Beacon Roofing Supply by 43.5% during the second quarter. Osaic Holdings Inc. now owns 2,114 shares of the company’s stock worth $127,000 after acquiring an additional 641 shares during the last quarter.
Beacon Roofing Supply Price Performance
BECN stock opened at $89.49 on Wednesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.05 and a current ratio of 1.73. Beacon Roofing Supply, Inc. has a 1 year low of $54.60 and a 1 year high of $90.62. The firm has a market cap of $5.67 billion, a P/E ratio of -84.42, a price-to-earnings-growth ratio of 1.53 and a beta of 1.62. The stock has a 50-day simple moving average of $85.78 and a 200-day simple moving average of $80.49.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.67% and a return on equity of 25.71%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business earned $1.18 EPS. Beacon Roofing Supply’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities analysts predict that Beacon Roofing Supply, Inc. will post 7.53 earnings per share for the current fiscal year.
Insider Buying and Selling at Beacon Roofing Supply
In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,806 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $88.75, for a total transaction of $160,282.50. Following the completion of the sale, the insider now owns 11,178 shares in the company, valued at approximately $992,047.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on BECN shares. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Stifel Nicolaus upped their price target on Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, JPMorgan Chase & Co. dropped their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.64.
View Our Latest Analysis on BECN
About Beacon Roofing Supply
(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.
Further Reading
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