Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock Holdings Lessened by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC reduced its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECNGet Rating) by 0.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 194,361 shares of the company’s stock after selling 302 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Beacon Roofing Supply were worth $11,522,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of BECN. JPMorgan Chase & Co. lifted its position in shares of Beacon Roofing Supply by 560.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,085,625 shares of the company’s stock worth $119,611,000 after buying an additional 1,769,848 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Beacon Roofing Supply by 8.6% in the 1st quarter. American Century Companies Inc. now owns 3,622,807 shares of the company’s stock worth $214,760,000 after buying an additional 285,685 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Beacon Roofing Supply by 24.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 621,115 shares of the company’s stock worth $36,820,000 after buying an additional 123,395 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Beacon Roofing Supply by 20.2% in the 4th quarter. Nuveen Asset Management LLC now owns 684,336 shares of the company’s stock valued at $39,247,000 after purchasing an additional 115,112 shares during the last quarter. Finally, Clayton Dubilier & Rice LLC lifted its position in Beacon Roofing Supply by 0.8% in the 1st quarter. Clayton Dubilier & Rice LLC now owns 14,671,917 shares of the company’s stock valued at $869,751,000 after purchasing an additional 112,962 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BECN shares. Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $70.00 to $58.00 in a research report on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Beacon Roofing Supply in a research report on Wednesday, August 17th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Beacon Roofing Supply from $66.00 to $59.00 in a research report on Friday, July 15th. Stephens lowered their target price on shares of Beacon Roofing Supply from $72.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, August 8th. Finally, Wells Fargo & Company lowered their target price on shares of Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 28th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.43.

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $57.23 on Tuesday. The firm’s 50 day moving average is $57.51 and its 200-day moving average is $58.41. The stock has a market capitalization of $3.72 billion, a P/E ratio of 12.15 and a beta of 1.79. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.91 and a quick ratio of 1.02. Beacon Roofing Supply, Inc. has a 12-month low of $45.71 and a 12-month high of $65.30.

Beacon Roofing Supply (NASDAQ:BECNGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.44. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Beacon Roofing Supply had a net margin of 5.25% and a return on equity of 29.19%. The business’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.59 EPS. Equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 6.94 EPS for the current fiscal year.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, acquired 103,931 shares of the stock in a transaction dated Friday, July 29th. The shares were bought at an average price of $57.73 per share, with a total value of $5,999,936.63. Following the purchase, the insider now directly owns 14,859,579 shares of the company’s stock, valued at approximately $857,843,495.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.95% of the company’s stock.

Beacon Roofing Supply Profile

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Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. 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.

Further Reading

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

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