Arizona State Retirement System Has $1.31 Million Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Arizona State Retirement System increased its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,993 shares of the company’s stock after acquiring an additional 551 shares during the quarter. Arizona State Retirement System’s holdings in Beacon Roofing Supply were worth $1,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Beacon Roofing Supply by 19.3% in the third quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock valued at $434,118,000 after acquiring an additional 909,819 shares during the last quarter. BlackRock Inc. boosted its holdings in Beacon Roofing Supply by 3.6% in the second quarter. BlackRock Inc. now owns 3,645,889 shares of the company’s stock valued at $302,536,000 after acquiring an additional 125,602 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Beacon Roofing Supply by 4.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after acquiring an additional 106,890 shares during the last quarter. American Century Companies Inc. boosted its holdings in Beacon Roofing Supply by 9.3% in the third quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock valued at $211,017,000 after acquiring an additional 233,393 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Beacon Roofing Supply by 467.9% in the fourth quarter. Morgan Stanley now owns 1,313,406 shares of the company’s stock valued at $69,335,000 after acquiring an additional 1,082,141 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

BECN has been the topic of several analyst reports. BMO Capital Markets upped their target price on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird upgraded Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and upped their target price for the company from $99.00 to $115.00 in a report on Thursday, February 29th. StockNews.com cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, April 8th. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Finally, Stifel Nicolaus increased their price target on Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.00.

Insider Activity at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction on 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 directly owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Christopher Carl Nelson sold 3,268 shares of the 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 sale, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction 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 sale, the insider now directly owns 10,531 shares of the company’s stock, valued at $1,000,445. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by insiders.

Beacon Roofing Supply Price Performance

Shares of BECN opened at $97.14 on Monday. Beacon Roofing Supply, Inc. has a 12-month low of $56.94 and a 12-month high of $102.83. The business’s fifty day moving average is $90.52 and its 200 day moving average is $83.90. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The stock has a market cap of $6.16 billion, a P/E ratio of -206.68, a P/E/G ratio of 1.71 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. Beacon Roofing Supply’s revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.85 earnings per share for the current fiscal year.

Beacon Roofing Supply Profile

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.