Teacher Retirement System of Texas Increases Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)
Teacher Retirement System of Texas boosted its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 22.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,882 shares of the company’s stock after buying an additional 1,962 shares during the period. Teacher Retirement System of Texas’ holdings in Beacon Roofing Supply were worth $595,000 as of its most recent filing with the Securities & Exchange Commission.
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Several other hedge funds and other institutional investors also recently bought and sold shares of BECN. Advisor Group Holdings Inc. increased its stake in shares of Beacon Roofing Supply by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after acquiring an additional 300 shares during the period. Raymond James & Associates grew its position in Beacon Roofing Supply by 11.6% during the 1st quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock worth $797,000 after purchasing an additional 1,397 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Beacon Roofing Supply during the 1st quarter valued at about $317,000. AlphaCrest Capital Management LLC lifted its holdings in shares of Beacon Roofing Supply by 4.0% in the 1st quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock valued at $419,000 after buying an additional 273 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Beacon Roofing Supply by 27.0% in the first quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock worth $665,000 after buying an additional 2,267 shares during the last quarter.
In other news, major shareholder Cd&R Investment Associates Ix, purchased 107,185 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was purchased at an average cost of $55.98 per share, for a total transaction of $6,000,216.30. Following the completion of the transaction, the insider now owns 15,072,084 shares of the company’s stock, valued at $843,735,262.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.95% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. StockNews.com began coverage on Beacon Roofing Supply in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Stifel Nicolaus boosted their target price on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, December 19th. Robert W. Baird dropped their price target on shares of Beacon Roofing Supply from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 24th. Royal Bank of Canada decreased their price objective on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating for the company in a research report on Monday, November 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Beacon Roofing Supply from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, January 10th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply has an average rating of “Hold” and a consensus target price of $65.63.
Beacon Roofing Supply Stock Down 1.6 %
Shares of NASDAQ BECN opened at $60.36 on Monday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 11.10 and a beta of 1.64. The company’s 50-day simple moving average is $55.46 and its 200-day simple moving average is $56.39. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply, Inc. has a 52-week low of $45.71 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.15. Beacon Roofing Supply had a return on equity of 31.40% and a net margin of 5.52%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Equities analysts predict that Beacon Roofing Supply, Inc. will post 7.05 EPS for the current fiscal year.
Beacon Roofing Supply Profile
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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