Quantbot Technologies LP Takes Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)
Quantbot Technologies LP bought a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,794 shares of the company’s stock, valued at approximately $371,000.
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Other hedge funds have also modified their holdings of the company. Retirement Group LLC increased its stake in Beacon Roofing Supply by 100.0{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the 2nd quarter. Retirement Group LLC now owns 548 shares of the company’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Beacon Roofing Supply by 37.5{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after acquiring an additional 300 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $67,000. Baird Financial Group Inc. acquired a new position in Beacon Roofing Supply in the 1st quarter worth approximately $209,000. Finally, PFS Investments Inc. purchased a new position in Beacon Roofing Supply during the 1st quarter worth approximately $211,000.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Stifel Nicolaus raised their target price on Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. Robert W. Baird lowered their target price on Beacon Roofing Supply from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Beacon Roofing Supply from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 10th. Royal Bank of Canada dropped their price objective on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Monday, November 7th. Finally, StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and an average target price of $65.63.
Insider Buying and Selling
In related news, major shareholder Cd&R Investment Associates Ix, purchased 107,185 shares of the stock in a transaction on Monday, January 30th. The shares were bought at an average price of $55.98 per share, for a total transaction of $6,000,216.30. Following the completion of the acquisition, the insider now directly owns 15,072,084 shares in the company, valued at approximately $843,735,262.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.95{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of the company’s stock.
Beacon Roofing Supply Stock Up 4.3 {7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}
Beacon Roofing Supply stock opened at $61.35 on Friday. The company has a market capitalization of $3.99 billion, a P/E ratio of 11.28 and a beta of 1.64. Beacon Roofing Supply, Inc. has a 1-year low of $45.71 and a 1-year high of $65.30. The firm’s fifty day simple moving average is $55.43 and its 200-day simple moving average is $56.36. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 1.01.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.15. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Beacon Roofing Supply had a return on equity of 31.40{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} and a net margin of 5.52{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}. Sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.05 earnings per share for the current fiscal year.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
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