Jacobs Levy Equity Management Inc. lessened its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 24.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,526 shares of the company’s stock after selling 16,260 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Beacon Roofing Supply were worth $3,899,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its holdings in shares of 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 purchasing an additional 300 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Beacon Roofing Supply by 11.6% during the first quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock worth $797,000 after purchasing an additional 1,397 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Beacon Roofing Supply during the first quarter worth about $317,000. AlphaCrest Capital Management LLC grew its holdings in shares of Beacon Roofing Supply by 4.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock worth $419,000 after purchasing an additional 273 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Beacon Roofing Supply by 27.0% during the first quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock worth $665,000 after purchasing an additional 2,267 shares during the last quarter.
Beacon Roofing Supply Price Performance
NASDAQ BECN opened at $86.53 on Friday. Beacon Roofing Supply, Inc. has a 52 week low of $54.60 and a 52 week high of $90.62. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -184.11, a price-to-earnings-growth ratio of 1.51 and a beta of 1.62. The company has a 50-day moving average price of $85.44 and a two-hundred day moving average price of $81.06.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company earned $1.18 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts forecast that Beacon Roofing Supply, Inc. will post 7.82 EPS for the current year.
Insider Activity
In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,806 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $88.75, for a total value of $160,282.50. Following the transaction, the insider now owns 11,178 shares in the company, valued at approximately $992,047.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on BECN shares. Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $99.00 to $115.00 in a research note on Thursday, February 29th. William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. Stifel Nicolaus increased their target price on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. StockNews.com upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Moderate Buy” and an average target price of $94.45.
Get Our Latest Report on Beacon Roofing Supply
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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