Beacon Roofing Supply, Inc. (NASDAQ:BECN – Receive Rating) major shareholder Cd&R Investment Associates Ix acquired 99,880 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were purchased at an average price of $60.07 per share, for a total value of $5,999,791.60. Following the completion of the transaction, the insider now directly owns 15,171,964 shares in the company, valued at $911,379,877.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders who own at least 10% of a company’s stock are required to disclose their sales and purchases to the SEC.
Cd&R Investment Associates Ix also recently completed the following transaction(s):
- On Monday, January 30th, Cd&R Investment Associates Ix bought 107,185 shares of Beacon Roofing Supply stock. The shares were bought at an average price of $55.98 per share, for a total transaction of $6,000,216.30.
Beacon Roofing Supply Trade Up 2.2%
Shares of BECN stock traded up $1.32 during mid-day trading on Friday, reaching $60.18. The company’s stock had a trading volume of 302,228 shares, compared to its average volume of 403,598. The company’s 50-day simple moving average is $59.78, and its 200-day simple moving average is $57.54. Beacon Roofing Supply, Inc. has a 12-month low of $45.71 and a 12-month high of $68.31. The company has a quick ratio of 1.08, a current ratio of 2.03 and a debt-to-equity ratio of 1.01. The firm has a market cap of $3.87 billion, a PE ratio of 10.82 and a beta of 1.57.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating ) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. Beacon Roofing Supply had a return on equity of 30.06% and a net margin of 5.44%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.98 billion. On average, analysts predict that Beacon Roofing Supply, Inc. will post 6.2 EPS for the current fiscal year.
Promote and demote an analyst
A number of research analysts have issued reports on BECN shares. StockNews.com began coverage on Beacon Roofing Supply in a report on Thursday, March 16th. They assign a “hold” rating to the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Beacon Roofing Supply from $81.00 to $85.00 and gave the company a “buy” rating in a report on Monday, February 27th. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Friday, March 10th. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $65.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Finally, Stephens upped their target price on Beacon Roofing Supply from $65.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Beacon Roofing Supply presently has a consensus rating of “Hold” and an average target price of $70.57, according to MarketBeat data.
Institutional investors weigh in on Beacon Rooftop Supply
A number of large investors have recently added to or reduced their stakes in BECN. Handelsbanken Fonder AB raised its stake in shares of Beacon Roofing Supply by 34.4% in the first quarter. Handelsbanken Fonder AB now owns 12,495 shares of the company’s stock valued at $735,000 after acquiring an additional 3,200 shares in the last quarter. Sendero Wealth Management LLC raised its stake in shares of Beacon Roofing Supply by 21.2% in the first quarter. Sendero Wealth Management LLC now owns 6,288 shares of the company’s stock valued at $370,000 after acquiring an additional 1,100 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Beacon Roofing Supply by 2.8% in the first quarter. Arizona State Retirement System now owns 15,081 shares of the company’s stock valued at $888,000 after buying an additional 407 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Beacon Roofing Supply in the first quarter valued at $507,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Beacon Roofing Supply in the first quarter valued at $217,000.
Beacon Roofing Supply Company Profile
(Get Rating)
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials. It also distributes additional building products including siding, windows, specialty exterior building products, insulation and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
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