Penn Capital Management Co. Inc. decreased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 36.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,942 shares of the company’s stock after selling 96,688 shares during the period. Penn Capital Management Co. Inc.’s holdings in Beacon Roofing Supply were worth $10,787,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Cerebellum GP LLC acquired a new position in Beacon Roofing Supply in the 4th quarter valued at approximately $130,000. Zions Bancorporation acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at approximately $124,000. CAPROCK Group Inc. acquired a new position in Beacon Roofing Supply in the 4th quarter valued at approximately $212,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Beacon Roofing Supply by 95.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,861 shares of the company’s stock valued at $246,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in Beacon Roofing Supply in the 4th quarter valued at approximately $256,000. 99.69% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total transaction of $119,500.00. Following the completion of the sale, the executive vice president now directly owns 7,056 shares of the company’s stock, valued at approximately $421,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $60.57, for a total value of $2,422,800.00. Following the sale, the chief executive officer now directly owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.
Several research firms have commented on BECN. BidaskClub cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Jefferies Group reaffirmed a “buy” rating and issued a $73.00 price target on shares of Beacon Roofing Supply in a report on Wednesday, January 17th. Zacks Investment Research cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Monday, January 22nd. Royal Bank of Canada set a $66.00 target price on Beacon Roofing Supply and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $70.00 target price (up from $55.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $60.45.
Beacon Roofing Supply, Inc. (BECN) opened at $54.53 on Friday. Beacon Roofing Supply, Inc. has a twelve month low of $39.57 and a twelve month high of $66.47. The company has a quick ratio of 1.35, a current ratio of 4.60 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $3,708.64, a P/E ratio of 22.63, a PEG ratio of 0.81 and a beta of 1.35.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 8th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.14. Beacon Roofing Supply had a return on equity of 9.60% and a net margin of 3.29%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm posted $0.56 EPS. Beacon Roofing Supply’s quarterly revenue was up 12.0% compared to the same quarter last year. research analysts predict that Beacon Roofing Supply, Inc. will post 3.56 earnings per share for the current year.
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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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