Spitfire Capital LLC Buys 30,908 Shares of Beacon Roofing Supply, Inc. (BECN)

Spitfire Capital LLC raised its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 16.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 215,503 shares of the company’s stock after buying an additional 30,908 shares during the quarter. Beacon Roofing Supply comprises 4.6% of Spitfire Capital LLC’s portfolio, making the stock its 9th largest holding. Spitfire Capital LLC owned approximately 0.32% of Beacon Roofing Supply worth $11,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BECN. Bank of Montreal Can grew its holdings in Beacon Roofing Supply by 9.7% during the 2nd quarter. Bank of Montreal Can now owns 61,767 shares of the company’s stock valued at $3,027,000 after buying an additional 5,463 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Beacon Roofing Supply by 4.8% during the second quarter. Aperio Group LLC now owns 12,060 shares of the company’s stock worth $591,000 after purchasing an additional 547 shares in the last quarter. Bbva Compass Bancshares Inc. grew its holdings in shares of Beacon Roofing Supply by 8.3% during the second quarter. Bbva Compass Bancshares Inc. now owns 6,448 shares of the company’s stock worth $316,000 after purchasing an additional 495 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Beacon Roofing Supply by 21.3% during the second quarter. Sei Investments Co. now owns 77,004 shares of the company’s stock worth $3,774,000 after purchasing an additional 13,541 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Beacon Roofing Supply by 5.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 366,870 shares of the company’s stock worth $17,977,000 after purchasing an additional 18,760 shares in the last quarter.

Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) opened at $62.41 on Wednesday. The firm has a market capitalization of $4,307.23, a P/E ratio of 29.30, a P/E/G ratio of 0.83 and a beta of 1.49. Beacon Roofing Supply, Inc. has a 12-month low of $39.57 and a 12-month high of $64.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.06 and a quick ratio of 1.35.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Monday, November 20th. The company reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. Beacon Roofing Supply had a return on equity of 9.09% and a net margin of 2.30%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. analysts expect that Beacon Roofing Supply, Inc. will post 3.08 earnings per share for the current fiscal year.

In related news, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the completion of the sale, the chief executive officer now owns 172,046 shares in the company, valued at approximately $10,420,826.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the completion of the sale, the executive vice president now owns 7,056 shares of the company’s stock, valued at approximately $421,596. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Several research analysts have recently commented on BECN shares. Wells Fargo & Company started coverage on Beacon Roofing Supply in a report on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price objective for the company. Northcoast Research raised Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Friday, August 25th. SunTrust Banks reissued a “buy” rating on shares of Beacon Roofing Supply in a report on Tuesday, September 12th. Royal Bank Of Canada reissued a “buy” rating and set a $53.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, October 10th. Finally, Jefferies Group raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $54.00 in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Beacon Roofing Supply currently has a consensus rating of “Buy” and an average target price of $56.58.

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Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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