Tower Research Capital LLC TRC Decreases Stock Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Tower Research Capital LLC TRC trimmed its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 82.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,717 shares of the company’s stock after selling 8,046 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Beacon Roofing Supply were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Sandy Spring Bank bought a new position in Beacon Roofing Supply during the 1st quarter valued at about $29,000. Exchange Traded Concepts LLC bought a new position in shares of Beacon Roofing Supply during the first quarter valued at approximately $36,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Beacon Roofing Supply in the first quarter worth approximately $38,000. Ronald Blue Trust Inc. lifted its stake in shares of Beacon Roofing Supply by 34.4% during the 1st quarter. Ronald Blue Trust Inc. now owns 817 shares of the company’s stock worth $43,000 after acquiring an additional 209 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its holdings in Beacon Roofing Supply by 37.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after acquiring an additional 300 shares during the period.

Beacon Roofing Supply Trading Up 1.2 %

BECN opened at $80.77 on Monday. Beacon Roofing Supply, Inc. has a 12 month low of $50.42 and a 12 month high of $87.46. The stock has a fifty day moving average price of $82.26 and a 200-day moving average price of $70.05. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.72 and a beta of 1.68. The company has a current ratio of 1.69, a quick ratio of 1.00 and a debt-to-equity ratio of 0.86.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, August 3rd. The company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.27 by $0.39. Beacon Roofing Supply had a net margin of 4.69% and a return on equity of 25.15%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.50 billion. As a group, equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 6.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Beacon Roofing Supply

In other news, Director Stuart A. Randle sold 10,299 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $72.43, for a total transaction of $745,956.57. Following the transaction, the director now directly owns 31,417 shares of the company’s stock, valued at $2,275,533.31. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Stuart A. Randle sold 10,299 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $72.43, for a total transaction of $745,956.57. Following the transaction, the director now owns 31,417 shares in the company, valued at $2,275,533.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 8,611 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $72.95, for a total transaction of $628,172.45. The disclosure for this sale can be found here. 0.95% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on BECN. Robert W. Baird lifted their target price on Beacon Roofing Supply from $76.00 to $95.00 in a research report on Monday, July 10th. Stephens lowered their price objective on shares of Beacon Roofing Supply from $70.00 to $68.00 in a research report on Monday, May 8th. BMO Capital Markets raised their target price on shares of Beacon Roofing Supply from $75.00 to $90.00 in a research report on Friday, June 16th. Raymond James lifted their price target on shares of Beacon Roofing Supply from $75.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Finally, Jefferies Financial Group increased their price objective on Beacon Roofing Supply from $75.00 to $88.00 and gave the stock a “hold” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply currently has an average rating of “Hold” and a consensus target price of $86.80.

Beacon Roofing Supply Company Profile

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.