Rafferty Asset Management LLC Purchases 5,108 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Rafferty Asset Management LLC boosted its position in Beacon Roofing Supply, Inc. (NASDAQ:BECNFree Report) by 40.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,877 shares of the company’s stock after acquiring an additional 5,108 shares during the period. Rafferty Asset Management LLC’s holdings in Beacon Roofing Supply were worth $1,556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in Beacon Roofing Supply in the 4th quarter valued at $36,000. Parkside Financial Bank & Trust grew its holdings in shares of Beacon Roofing Supply by 49.4% during the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after buying an additional 161 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Beacon Roofing Supply during the third quarter worth about $98,000. CI Investments Inc. acquired a new stake in shares of Beacon Roofing Supply in the 3rd quarter worth about $157,000. Finally, Sequoia Financial Advisors LLC bought a new position in Beacon Roofing Supply in the 4th quarter valued at about $253,000. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 0.3 %

Beacon Roofing Supply stock opened at $96.70 on Tuesday. The firm has a 50 day moving average price of $96.80 and a 200-day moving average price of $89.98. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47. Beacon Roofing Supply, Inc. has a twelve month low of $68.50 and a twelve month high of $103.75. The company has a market capitalization of $6.15 billion, a P/E ratio of -153.49 and a beta of 1.58.

Beacon Roofing Supply (NASDAQ:BECNGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. As a group, equities analysts predict that Beacon Roofing Supply, Inc. will post 7.79 EPS for the current year.

Insider Activity

In related news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the sale, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the transaction, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at $16,521.12. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BECN. BMO Capital Markets boosted their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Robert W. Baird upped their price target on Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Truist Financial raised their price objective on Beacon Roofing Supply from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.45.

Get Our Latest Report on BECN

Beacon Roofing Supply Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BECN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beacon Roofing Supply, Inc. (NASDAQ:BECNFree Report).

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

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.