Blair William & Co. IL Grows Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Blair William & Co. IL boosted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 197.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,544 shares of the company’s stock after acquiring an additional 12,969 shares during the quarter. Blair William & Co. IL’s holdings in Beacon Roofing Supply were worth $1,769,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caprock Group LLC increased its position in Beacon Roofing Supply by 1.3% in the first quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock worth $860,000 after buying an additional 111 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Beacon Roofing Supply by 28.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock worth $52,000 after acquiring an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Beacon Roofing Supply by 2.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock worth $501,000 after acquiring an additional 147 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Beacon Roofing Supply by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock valued at $803,000 after purchasing an additional 156 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Beacon Roofing Supply by 1.5% in the first quarter. QRG Capital Management Inc. now owns 10,475 shares of the company’s stock worth $1,027,000 after purchasing an additional 157 shares during the period. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

BECN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Royal Bank of Canada dropped their price objective on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird decreased their target price on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Stephens dropped their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $111.30.

Insider Activity

In related news, EVP Christopher Carl Nelson sold 2,955 shares of Beacon Roofing Supply stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $91.11, for a total transaction of $269,230.05. Following the completion of the sale, the executive vice president now owns 320 shares in the company, valued at approximately $29,155.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Christopher Carl Nelson sold 2,955 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $91.11, for a total value of $269,230.05. Following the completion of the transaction, the executive vice president now owns 320 shares of the company’s stock, valued at $29,155.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Prithvi Gandhi acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $82.29 per share, for a total transaction of $411,450.00. Following the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at $411,450. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $85.03 on Tuesday. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -134.97 and a beta of 1.55. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. The business has a 50 day simple moving average of $88.99 and a 200-day simple moving average of $92.84. Beacon Roofing Supply, Inc. has a 1 year low of $68.50 and a 1 year high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the business earned $2.66 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.39 EPS for the current year.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.