Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) major shareholder Cd&R Investment Associates Ix, bought 102,219 shares of the stock in a transaction that occurred on Friday, April 29th. The shares were purchased at an average price of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the acquisition, the insider now owns 14,755,648 shares of the company’s stock, valued at approximately $866,156,537.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Beacon Roofing Supply stock opened at $59.63 on Friday. The firm has a 50-day moving average of $59.29 and a 200-day moving average of $56.44. The stock has a market cap of $4.20 billion, a PE ratio of 22.33 and a beta of 1.91. Beacon Roofing Supply, Inc. has a 52-week low of $46.62 and a 52-week high of $63.64. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.08 and a current ratio of 1.82.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its earnings results on Thursday, February 3rd. The company reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.09. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Beacon Roofing Supply had a net margin of 3.56% and a return on equity of 23.98%. Equities research analysts predict that Beacon Roofing Supply, Inc. will post 5.35 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of BECN. Ellevest Inc. lifted its position in Beacon Roofing Supply by 1,193.9% during the first quarter. Ellevest Inc. now owns 427 shares of the company’s stock worth $25,000 after purchasing an additional 394 shares during the period. Exchange Traded Concepts LLC bought a new stake in Beacon Roofing Supply during the fourth quarter worth about $26,000. UBS Group AG lifted its position in Beacon Roofing Supply by 44.5% during the third quarter. UBS Group AG now owns 1,455 shares of the company’s stock worth $69,000 after purchasing an additional 448 shares during the period. Gladius Capital Management LP bought a new stake in Beacon Roofing Supply during the fourth quarter worth about $92,000. Finally, Nisa Investment Advisors LLC bought a new stake in Beacon Roofing Supply during the first quarter worth about $136,000.
BECN has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on shares of Beacon Roofing Supply from $58.00 to $55.00 in a report on Monday, February 7th. JPMorgan Chase & Co. decreased their price objective on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Wednesday, April 20th. Robert W. Baird upped their price objective on shares of Beacon Roofing Supply from $72.00 to $74.00 in a report on Tuesday, April 12th. Wells Fargo & Company upped their objective price on shares of Beacon Roofing Supply from $59.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, April 21st. Finally, StockNews.com initiated coverage on shares of Beacon Roofing Supply in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.22.
Beacon Roofing Supply Company Profile (Get Rating)
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. 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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