Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 12.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,014 shares of the company’s stock after selling 1,172 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Beacon Roofing Supply were worth $475,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Ellevest Inc. lifted its stake in shares of Beacon Roofing Supply by 1,193.9% in the 1st quarter. Ellevest Inc. now owns 427 shares of the company’s stock valued at $25,000 after purchasing an additional 394 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at $26,000. Gladius Capital Management LP bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at $92,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Beacon Roofing Supply by 43.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,411 shares of the company’s stock valued at $138,000 after buying an additional 733 shares in the last quarter. Finally, Cim Investment Management Inc. bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at $204,000.
In related news, major shareholder Cd&R Investment Associates Ix, acquired 102,219 shares of the business’s stock in a transaction on Friday, April 29th. The stock was purchased at an average cost of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the transaction, the insider now directly owns 14,755,648 shares of the company’s stock, valued at approximately $866,156,537.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.95% of the company’s stock.
BECN has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on shares of Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 28th. JPMorgan Chase & Co. lowered their price objective on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating for the company in a research report on Wednesday, April 20th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Robert W. Baird upped their price objective on shares of Beacon Roofing Supply from $74.00 to $83.00 in a research report on Friday, May 6th. Finally, Royal Bank of Canada cut Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $70.00 to $58.00 in a report on Wednesday, June 22nd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.25.
Shares of NASDAQ:BECN opened at $55.14 on Friday. Beacon Roofing Supply, Inc. has a 52-week low of $45.71 and a 52-week high of $65.30. The company has a market capitalization of $3.79 billion, a P/E ratio of 15.94 and a beta of 1.78. The company has a 50-day simple moving average of $57.38 and a 200 day simple moving average of $57.63. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.85.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.40. Beacon Roofing Supply had a net margin of 4.24% and a return on equity of 26.21%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.43 billion. As a group, equities analysts forecast that Beacon Roofing Supply, Inc. will post 6.58 earnings per share for the current year.
Beacon Roofing Supply Profile (Get Rating)
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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