SG Americas Securities LLC increased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 49.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 11,691 shares of the company’s stock after buying an additional 3,863 shares during the quarter. SG Americas Securities LLC’s holdings in Beacon Roofing Supply were worth $640,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Group LLC lifted its holdings in Beacon Roofing Supply by 100.0% during the second quarter. Retirement Group LLC now owns 548 shares of the company’s stock valued at $28,000 after purchasing an additional 274 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in Beacon Roofing Supply by 37.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Beacon Roofing Supply during the second quarter valued at about $67,000. Verition Fund Management LLC purchased a new stake in Beacon Roofing Supply during the second quarter valued at about $202,000. Finally, Baird Financial Group Inc. purchased a new stake in Beacon Roofing Supply during the first quarter valued at about $209,000.
Wall Street Analyst Weigh In
Several research firms have commented on BECN. Robert W. Baird downgraded shares of Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $65.00 in a report on Friday, October 14th. 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 report on Tuesday, January 10th. Royal Bank of Canada lowered their price target on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating on the stock in a report on Monday, November 7th. Stifel Nicolaus increased their price target on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, December 19th. Finally, StockNews.com started coverage on shares of Beacon Roofing Supply in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.63.
Insider Buying and Selling at Beacon Roofing Supply
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 105,320 shares of Beacon Roofing Supply stock in a transaction on 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 completion of the transaction, the insider now directly owns 14,964,899 shares of the company’s stock, valued at $852,550,296.03. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Stock Up 0.6 %
BECN stock opened at $53.42 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average is $55.80 and its 200 day moving average is $56.28. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 9.82 and a beta of 1.60. Beacon Roofing Supply, Inc. has a 1-year low of $45.71 and a 1-year high of $65.30.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.15. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Beacon Roofing Supply had a net margin of 5.52% and a return on equity of 31.40%. Sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.08 EPS for the current fiscal year.
Beacon Roofing Supply Profile
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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