Beacon Roofing Supply, Inc. (NASDAQ:BECN) Major Shareholder Buys $6,000,080.40 in Stock
Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) major shareholder Cd&R Investment Associates Ix, purchased 105,320 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were acquired at an average cost of $56.97 per share, for a total transaction of $6,000,080.40. Following the acquisition, the insider now owns 14,964,899 shares of the company’s stock, valued at approximately $852,550,296.03. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of a company’s stock are required to disclose their sales and purchases with the SEC.
Beacon Roofing Supply Price Performance
Beacon Roofing Supply stock traded up $1.51 during mid-day trading on Friday, hitting $56.32. The company’s stock had a trading volume of 686,088 shares, compared to its average volume of 527,288. The company has a quick ratio of 1.02, a current ratio of 1.91 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $3.66 billion, a P/E ratio of 11.64 and a beta of 1.68. Beacon Roofing Supply, Inc. has a twelve month low of $45.71 and a twelve month high of $65.30. The stock’s fifty day moving average price is $55.67 and its two-hundred day moving average price is $57.39.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.05. Beacon Roofing Supply had a net margin of 5.25{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} and a return on equity of 29.19{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the company posted $1.59 EPS. The company’s quarterly revenue was up 26.0{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} compared to the same quarter last year. Research analysts forecast that Beacon Roofing Supply, Inc. will post 6.87 earnings per share for the current year.
Hedge Funds Weigh In On Beacon Roofing Supply
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clayton Dubilier & Rice LLC grew its holdings in shares of Beacon Roofing Supply by 0.8{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} during the 1st quarter. Clayton Dubilier & Rice LLC now owns 14,671,917 shares of the company’s stock valued at $869,751,000 after acquiring an additional 112,962 shares in the last quarter. FMR LLC grew its holdings in shares of Beacon Roofing Supply by 1.6{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} during the 2nd quarter. FMR LLC now owns 10,311,211 shares of the company’s stock valued at $529,583,000 after acquiring an additional 160,181 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Beacon Roofing Supply by 8.6{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} during the 1st quarter. American Century Companies Inc. now owns 3,622,807 shares of the company’s stock valued at $214,760,000 after acquiring an additional 285,685 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Beacon Roofing Supply by 4.0{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after acquiring an additional 106,890 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of Beacon Roofing Supply by 19.9{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,689,713 shares of the company’s stock valued at $86,784,000 after acquiring an additional 280,972 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Beacon Roofing Supply from $66.00 to $59.00 in a report on Friday, July 15th. Stephens dropped their target price on Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Beacon Roofing Supply from $90.00 to $79.00 and set a “buy” rating on the stock in a report on Thursday, October 20th. Robert W. Baird cut Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $77.00 to $65.00 in a report on Friday, October 14th. Finally, William Blair cut Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 19th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.25.
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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