Teacher Retirement System of Texas Grows Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

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Teacher Retirement System of Texas Grows Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)
Teacher Retirement System of Texas Grows Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)


Teacher Retirement System of Texas increased its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,601 shares of the company’s stock after buying an additional 681 shares during the quarter. Teacher Retirement System of Texas’ holdings in Beacon Roofing Supply were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BECN. Commonwealth Equity Services LLC lifted its position in Beacon Roofing Supply by 4.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,146 shares of the company’s stock worth $352,000 after buying an additional 247 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Beacon Roofing Supply by 43.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,811 shares of the company’s stock worth $735,000 after buying an additional 3,887 shares during the period. Envestnet Asset Management Inc. lifted its position in Beacon Roofing Supply by 1.8% during the fourth 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 period. American Century Companies Inc. lifted its position in Beacon Roofing Supply by 14.8% during the fourth quarter. American Century Companies Inc. now owns 3,337,122 shares of the company’s stock worth $191,384,000 after buying an additional 429,543 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new position in Beacon Roofing Supply during the fourth quarter worth about $274,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on BECN. Wells Fargo & Company dropped their price target on Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 28th. Stephens dropped their price target on Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, August 8th. Royal Bank of Canada lowered Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $70.00 to $58.00 in a research note on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft began coverage on Beacon Roofing Supply in a research note on Wednesday. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. dropped their price target on Beacon Roofing Supply from $66.00 to $59.00 in a research note on Friday, July 15th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of “Hold” and a consensus price target of $62.43.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 103,931 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average price of $57.73 per share, with a total value of $5,999,936.63. Following the completion of the acquisition, the insider now owns 14,859,579 shares of the company’s stock, valued at approximately $857,843,495.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is currently owned by company insiders.

Beacon Roofing Supply Price Performance

BECN stock opened at $61.40 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.02 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a 1 year low of $45.71 and a 1 year high of $65.30. The firm has a market cap of $3.99 billion, a P/E ratio of 13.04 and a beta of 1.79. The stock has a 50-day simple moving average of $56.03 and a 200-day simple moving average of $58.30.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.44. Beacon Roofing Supply had a return on equity of 29.19% and a net margin of 5.25%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities analysts predict that Beacon Roofing Supply, Inc. will post 6.87 earnings per share for the current fiscal year.

Beacon Roofing Supply Company Profile

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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.

So see

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Teacher Retirement System of Texas Grows Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

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2022-08-21 09:41:56

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