Hudson Bay Capital Management LP acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,000 shares of the company’s stock, valued at approximately $540,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust bought a new stake in Beacon Roofing Supply in the second quarter worth about $27,000. Exchange Traded Concepts LLC raised its position in Beacon Roofing Supply by 63.6% in the third quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock worth $65,000 after acquiring an additional 325 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares in the last quarter. Headlands Technologies LLC purchased a new position in Beacon Roofing Supply in the 3rd quarter worth about $98,000. Finally, Osaic Holdings Inc. increased its stake in Beacon Roofing Supply by 43.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,114 shares of the company’s stock worth $127,000 after purchasing an additional 641 shares in the last quarter.
Analysts Set New Price Targets
BECN has been the topic of several research analyst reports. Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $99.00 to $115.00 in a research note on Thursday, February 29th. Stifel Nicolaus lifted 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. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.45.
View Our Latest Report on Beacon Roofing Supply
Beacon Roofing Supply Stock Up 2.2 %
BECN opened at $88.42 on Monday. The business has a 50 day moving average price of $85.49 and a 200 day moving average price of $81.15. Beacon Roofing Supply, Inc. has a twelve month low of $54.60 and a twelve month high of $90.62. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. The firm has a market cap of $5.61 billion, a P/E ratio of -188.13, a price-to-earnings-growth ratio of 1.53 and a beta of 1.62.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last issued its quarterly 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 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 firm earned $1.18 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Research analysts forecast that Beacon Roofing Supply, Inc. will post 7.82 EPS for the current year.
Insider Transactions at Beacon Roofing Supply
In other news, insider Jason L. Taylor sold 1,806 shares of the company’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 transaction, the insider now directly owns 11,178 shares in the company, valued at $992,047.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Profile
(Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the 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. The company 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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