SG Americas Securities LLC lowered its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 80.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,011 shares of the company’s stock after selling 8,357 shares during the quarter. SG Americas Securities LLC’s holdings in Beacon Roofing Supply were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BECN. FourThought Financial LLC increased its position in shares of Beacon Roofing Supply by 10.2% during the first quarter. FourThought Financial LLC now owns 2,657 shares of the company’s stock valued at $158,000 after acquiring an additional 245 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Beacon Roofing Supply by 4.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,146 shares of the company’s stock valued at $352,000 after purchasing an additional 247 shares during the last quarter. Rafferty Asset Management LLC raised its stake in shares of Beacon Roofing Supply by 1.7% during the 4th quarter. Rafferty Asset Management LLC now owns 18,106 shares of the company’s stock worth $1,038,000 after purchasing an additional 302 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Beacon Roofing Supply by 1.8% in the 4th quarter. Vestnet Asset Management Inc. now owns 19,242 shares of the company’s stock worth $1,104,000 after buying an additional 341 shares during the last quarter. Finally, Ellevest Inc. grew 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 valued at $25,000 after buying an additional 394 shares during the period.
Analyst Upgrades and Downgrades
BECN has been the topic of a number of research analyst reports. Stephens dropped their target price on shares of Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, August 8th. JPMorgan Chase & Co. reduced their price objective on Beacon Roofing Supply from $66.00 to $59.00 in a report on Friday, July 15th. Robert W. Baird boosted their target price on Beacon Roofing Supply from $74.00 to $83.00 in a research note on Friday, May 6th. Royal Bank of Canada downgraded Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $70.00 to $58.00 in a research note on Wednesday, June 22nd. Finally, William Blair cut Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.43.
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, acquired 103,931 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were bought at an average price of $57.73 per share, for a total transaction of $5,999,936.63. Following the completion of the transaction, the insider now owns 14,859,579 shares of the company’s stock, valued at approximately $857,843,495.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Stock Performance
NASDAQ:BECN opened at $60.23 on Friday. Beacon Roofing Supply, Inc. has a 52-week low of $45.71 and a 52-week high of $65.30. The business’s fifty day moving average is $56.25 and its 200 day moving average is $58.04. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 1.91. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 12.79 and a beta of 1.79.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.44. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.28 billion. Beacon Roofing Supply had a net margin of 5.25% and a return on equity of 29.19%. Beacon Roofing Supply’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the business earned $1.59 earnings per share. Research analysts predict that Beacon Roofing Supply, Inc. will post 6.73 EPS for the current year.
About Beacon Roofing Supply
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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