Sciencast Management LP acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,700 shares of the company’s stock, valued at approximately $560,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Beacon Roofing Supply in the first quarter worth about $385,000. Brandywine Global Investment Management LLC purchased a new position in shares of Beacon Roofing Supply in the first quarter worth about $10,192,000. Eagle Asset Management Inc. lifted its stake in shares of Beacon Roofing Supply by 3.6% in the first quarter. Eagle Asset Management Inc. now owns 140,237 shares of the company’s stock worth $8,252,000 after buying an additional 4,935 shares in the last quarter. Acrisure Capital Management LLC purchased a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $506,000. Finally, Clayton Dubilier & Rice LLC lifted its stake in shares of Beacon Roofing Supply by 0.7% in the first quarter. Clayton Dubilier & Rice LLC now owns 15,094,980 shares of the company’s stock worth $888,340,000 after buying an additional 111,593 shares in the last quarter.
Beacon Roofing Supply Price Performance
Shares of BECN opened at $76.65 on Wednesday. Beacon Roofing Supply, Inc. has a 1-year low of $50.42 and a 1-year high of $87.46. The stock has a market cap of $4.84 billion, a PE ratio of 15.18, a P/E/G ratio of 1.70 and a beta of 1.68. The firm has a 50-day simple moving average of $81.17 and a two-hundred day simple moving average of $71.31. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.69 and a quick ratio of 1.00.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.39. Beacon Roofing Supply had a net margin of 4.69% and a return on equity of 25.15%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.50 billion. As a group, analysts forecast that Beacon Roofing Supply, Inc. will post 6.91 EPS for the current year.
Insider Buying and Selling at Beacon Roofing Supply
In related news, major shareholder Cd&R Investment Associates Ix, purchased 46,170 shares of the company’s stock in a transaction on Monday, September 11th. The stock was acquired at an average cost of $63.59 per share, for a total transaction of $2,935,950.30. Following the completion of the transaction, the insider now directly owns 10,218,134 shares in the company, valued at $649,771,141.06. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Jason L. Taylor sold 2,152 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $78.19, for a total value of $168,264.88. Following the completion of the transaction, the insider now owns 8,689 shares of the company’s stock, valued at $679,392.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Cd&R Investment Associates Ix, acquired 46,170 shares of the stock in a transaction dated Monday, September 11th. The stock was acquired at an average cost of $63.59 per share, with a total value of $2,935,950.30. Following the purchase, the insider now owns 10,218,134 shares of the company’s stock, valued at approximately $649,771,141.06. The disclosure for this purchase can be found here. Company insiders own 0.95% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on BECN. Loop Capital raised their price target on shares of Beacon Roofing Supply from $76.00 to $84.00 in a research note on Friday, June 9th. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $76.00 to $95.00 in a research report on Monday, July 10th. StockNews.com cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Truist Financial raised their price objective on shares of Beacon Roofing Supply from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, August 4th. Finally, Jefferies Financial Group raised their price objective on shares of Beacon Roofing Supply from $75.00 to $88.00 and gave the stock a “hold” rating in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.80.
View Our Latest Stock Report 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.
See Also
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