Rothschild Asset Management Inc. boosted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 538,440 shares of the company’s stock after acquiring an additional 29,876 shares during the period. Rothschild Asset Management Inc. owned 0.81% of Beacon Roofing Supply worth $27,595,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Jennison Associates LLC boosted its holdings in shares of Beacon Roofing Supply by 502.2% in the 3rd quarter. Jennison Associates LLC now owns 1,683,096 shares of the company’s stock valued at $86,259,000 after purchasing an additional 1,403,608 shares in the last quarter. Stephens Investment Management Group LLC acquired a new stake in shares of Beacon Roofing Supply in the 3rd quarter valued at $32,333,000. Cramer Rosenthal Mcglynn LLC boosted its holdings in shares of Beacon Roofing Supply by 51.2% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,174,020 shares of the company’s stock valued at $57,527,000 after purchasing an additional 397,770 shares in the last quarter. Skylands Capital LLC boosted its holdings in shares of Beacon Roofing Supply by 1,144.0% in the 3rd quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock valued at $10,583,000 after purchasing an additional 189,900 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Beacon Roofing Supply by 10.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after acquiring an additional 176,659 shares in the last quarter.
Several equities research analysts recently weighed in on BECN shares. Citigroup raised their price objective on Beacon Roofing Supply from $48.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, August 28th. SunTrust Banks reaffirmed a “buy” rating and issued a $55.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 10th. KeyCorp raised Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 target price for the company in a research report on Friday, August 25th. Wells Fargo & Company started coverage on Beacon Roofing Supply in a research report on Wednesday, October 18th. They issued a “market perform” rating and a $58.00 target price for the company. Finally, Zacks Investment Research raised Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 target price for the company in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.58.
Beacon Roofing Supply, Inc. (BECN) traded up $0.17 during trading on Thursday, reaching $62.00. The company had a trading volume of 941,238 shares, compared to its average volume of 527,859. Beacon Roofing Supply, Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $64.88. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $4,210.00, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm earned $0.88 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. equities analysts anticipate that Beacon Roofing Supply, Inc. will post 3.08 earnings per share for the current year.
In other news, EVP Ross D. Cooper sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total value of $119,500.00. Following the transaction, the executive vice president now owns 7,056 shares of the company’s stock, valued at $421,596. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at approximately $10,420,826.22. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.
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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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