Ramsey Quantitative Systems acquired a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, Holdings Channel reports. The firm acquired 4,376 shares of the company’s stock, valued at approximately $279,000.
Other large investors have also made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Beacon Roofing Supply by 9.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 402,011 shares of the company’s stock valued at $20,604,000 after purchasing an additional 35,141 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at about $312,000. Point72 Asset Management L.P. acquired a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at about $9,688,000. Bamco Inc. NY acquired a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at about $61,982,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Beacon Roofing Supply by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,505,823 shares of the company’s stock valued at $128,424,000 after purchasing an additional 93,832 shares during the period. 99.79% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and set a $46.00 price target (down from $52.00) on shares of Beacon Roofing Supply in a research note on Friday, November 17th. Citigroup dropped their price target on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday, January 23rd. Robert W. Baird reaffirmed an “outperform” rating and set a $70.00 price target (up from $55.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. Finally, BidaskClub raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. 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 currently has a consensus rating of “Buy” and a consensus target price of $60.45.
Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) opened at $53.24 on Friday. The company has a market capitalization of $3,616.84, a P/E ratio of 22.07, a PEG ratio of 0.46 and a beta of 1.35. Beacon Roofing Supply, Inc. has a 52 week low of $39.57 and a 52 week high of $66.47. The company has a quick ratio of 3.58, a current ratio of 4.60 and a debt-to-equity ratio of 1.09.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.54 by $0.14. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. Beacon Roofing Supply had a return on equity of 9.60% and a net margin of 3.29%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. equities research analysts predict that Beacon Roofing Supply, Inc. will post 3.56 EPS for the current year.
In other news, CEO Paul Isabella sold 40,000 shares of the company’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 transaction, the chief executive officer now directly owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.
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About Beacon Roofing Supply
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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