Janney Montgomery Scott LLC Takes $341,000 Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Janney Montgomery Scott LLC purchased a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECNGet Rating) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,230 shares of the company’s stock, valued at approximately $341,000.

A number of other institutional investors have also modified their holdings of BECN. Retirement Group LLC boosted its stake in Beacon Roofing Supply by 100.0% in the 2nd quarter. Retirement Group LLC now owns 548 shares of the company’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Beacon Roofing Supply in the 2nd quarter worth approximately $67,000. Verition Fund Management LLC acquired a new stake in Beacon Roofing Supply in the 2nd quarter worth approximately $202,000. Finally, Baird Financial Group Inc. acquired a new stake in Beacon Roofing Supply in the 1st quarter worth approximately $209,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BECN. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Stifel Nicolaus raised their price target on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Beacon Roofing Supply from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 10th. Robert W. Baird reduced their price target on shares of Beacon Roofing Supply from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada reduced their price target on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating for the company in a research report on Monday, November 7th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.63.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $55.26 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.10. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 10.16 and a beta of 1.60. The company has a 50 day moving average price of $55.68 and a 200-day moving average price of $56.30. Beacon Roofing Supply, Inc. has a 1-year low of $45.71 and a 1-year high of $65.30.

Beacon Roofing Supply (NASDAQ:BECNGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.15. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.35 billion. Beacon Roofing Supply had a net margin of 5.52% and a return on equity of 31.40%. Equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.05 EPS for the current year.

Insider Activity

In related news, major shareholder Cd&R Investment Associates Ix, purchased 105,320 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was bought at an average price of $56.97 per share, with a total value of $6,000,080.40. Following the acquisition, the insider now owns 14,964,899 shares in the company, valued at $852,550,296.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.95% of the company’s stock.

Beacon Roofing Supply Company Profile

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Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary 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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Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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