Rafferty Asset Management LLC boosted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 16.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,769 shares of the company’s stock after buying an additional 1,841 shares during the quarter. Rafferty Asset Management LLC’s holdings in Beacon Roofing Supply were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently added to or reduced their stakes in BECN. Morgan Stanley grew its position in Beacon Roofing Supply by 467.9% during the fourth quarter. Morgan Stanley now owns 1,313,406 shares of the company’s stock valued at $69,335,000 after buying an additional 1,082,141 shares during the period. Frontier Capital Management Co. LLC grew its position in Beacon Roofing Supply by 40.3% during the second quarter. Frontier Capital Management Co. LLC now owns 2,417,307 shares of the company’s stock valued at $200,588,000 after buying an additional 694,876 shares during the period. JPMorgan Chase & Co. grew its position in Beacon Roofing Supply by 301.1% during the first quarter. JPMorgan Chase & Co. now owns 849,092 shares of the company’s stock valued at $49,969,000 after buying an additional 637,420 shares during the period. Norges Bank bought a new stake in Beacon Roofing Supply during the fourth quarter valued at approximately $23,585,000. Finally, Envestnet Asset Management Inc. grew its position in Beacon Roofing Supply by 2,604.0% during the first quarter. Envestnet Asset Management Inc. now owns 388,859 shares of the company’s stock valued at $951,000 after buying an additional 374,478 shares during the period.
Analyst Ratings Changes
Several brokerages recently issued reports on BECN. Stifel Nicolaus boosted their target price on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. JPMorgan Chase & Co. lowered their price target 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 downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Finally, William Blair raised shares of 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 issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply currently has an average rating of “Hold” and an average target price of $92.64.
Check Out Our Latest Stock Analysis on BECN
Beacon Roofing Supply Price Performance
BECN stock opened at $87.96 on Friday. Beacon Roofing Supply, Inc. has a one year low of $54.60 and a one year high of $89.39. The company’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 quick ratio of 1.05 and a current ratio of 1.73. The company has a market capitalization of $5.57 billion, a PE ratio of -82.98, a price-to-earnings-growth ratio of 1.49 and a beta of 1.62.
Insider Transactions at Beacon Roofing Supply
In other news, insider Jason L. Taylor sold 1,806 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $992,047.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 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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