Headlands Technologies LLC Invests $98,000 in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Headlands Technologies LLC purchased a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECNFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,266 shares of the company’s stock, valued at approximately $98,000.

A number of other institutional investors have also recently made changes to their positions in BECN. Parkside Financial Bank & Trust purchased a new position in Beacon Roofing Supply during the second quarter worth approximately $27,000. Exchange Traded Concepts LLC lifted its position in Beacon Roofing Supply by 63.6% during the third quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock worth $65,000 after buying an additional 325 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in Beacon Roofing Supply by 37.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after buying an additional 300 shares in the last quarter. Osaic Holdings Inc. lifted its position in Beacon Roofing Supply by 43.5% during the second quarter. Osaic Holdings Inc. now owns 2,114 shares of the company’s stock worth $127,000 after buying an additional 641 shares in the last quarter. Finally, State of Wyoming purchased a new position in Beacon Roofing Supply during the fourth quarter worth approximately $131,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BECN shares. JPMorgan Chase & Co. reduced their price objective on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. StockNews.com downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Stifel Nicolaus lifted their target price on Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, Truist Financial reduced their target price on Beacon Roofing Supply from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.64.

View Our Latest Stock Report on BECN

Insider Activity

In related news, insider Jason L. Taylor sold 1,806 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $88.75, for a total transaction of $160,282.50. Following the completion of the transaction, the insider now directly owns 11,178 shares of the company’s stock, valued at approximately $992,047.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Stock Up 1.1 %

Shares of NASDAQ BECN opened at $87.28 on Monday. Beacon Roofing Supply, Inc. has a twelve month low of $54.60 and a twelve month high of $89.39. The company has a quick ratio of 1.05, a current ratio of 1.73 and a debt-to-equity ratio of 1.43. The stock has a fifty day simple moving average of $84.90 and a 200-day simple moving average of $80.30.

About Beacon Roofing Supply

(Free Report)

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in 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. It 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.

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Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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