Raymond James & Associates lifted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 76.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,263 shares of the company’s stock after buying an additional 16,552 shares during the period. Raymond James & Associates owned about 0.06% of Beacon Roofing Supply worth $2,953,000 at the end of the most recent quarter.
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Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its stake in Beacon Roofing Supply by 8.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,009 shares of the company’s stock valued at $333,000 after purchasing an additional 309 shares during the last quarter. Diversified Trust Co acquired a new stake in Beacon Roofing Supply in the 2nd quarter valued at about $243,000. Duality Advisers LP acquired a new stake in Beacon Roofing Supply in the 2nd quarter valued at about $722,000. Vanguard Personalized Indexing Management LLC lifted its stake in Beacon Roofing Supply by 5.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,441 shares of the company’s stock valued at $369,000 after purchasing an additional 239 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Beacon Roofing Supply by 71.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 23,684 shares of the company’s stock valued at $1,978,000 after acquiring an additional 9,839 shares during the period.
Insiders Place Their Bets
In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,806 shares of the firm’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 sale, the insider now owns 11,178 shares of the company’s stock, valued at approximately $992,047.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.
Analysts Set New Price Targets
BECN has been the topic of several research analyst reports. StockNews.com raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Saturday, January 6th. William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Truist Financial dropped their price target on shares of Beacon Roofing Supply from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, October 17th. Royal Bank of Canada upgraded shares of Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $91.00 to $94.00 in a research report on Thursday, October 5th. Finally, Jefferies Financial Group dropped their price target on shares of Beacon Roofing Supply from $92.00 to $89.00 in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.64.
Read Our Latest Report on BECN
Beacon Roofing Supply Stock Performance
Beacon Roofing Supply stock opened at $87.07 on Tuesday. The firm’s fifty day moving average price is $83.99 and its 200-day moving average price is $80.28. 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 stock has a market cap of $5.52 billion, a P/E ratio of -82.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.63. Beacon Roofing Supply, Inc. has a fifty-two week low of $53.46 and a fifty-two week high of $89.39.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.31. Beacon Roofing Supply had a net margin of 4.67% and a return on equity of 25.71%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.59 billion. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.52 earnings per share for the current fiscal year.
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.
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