Raymond James Financial Services Advisors Inc. Acquires Shares of 10,942 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,942 shares of the company’s stock, valued at approximately $952,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Beacon Roofing Supply by 19.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock worth $434,118,000 after purchasing an additional 909,819 shares during the period. BlackRock Inc. raised its stake in shares of Beacon Roofing Supply by 3.6% during the 2nd quarter. BlackRock Inc. now owns 3,645,889 shares of the company’s stock worth $302,536,000 after purchasing an additional 125,602 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Beacon Roofing Supply by 4.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock worth $144,131,000 after purchasing an additional 106,890 shares during the period. American Century Companies Inc. raised its stake in shares of Beacon Roofing Supply by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock worth $211,017,000 after purchasing an additional 233,393 shares during the period. Finally, Morgan Stanley raised its stake in shares of Beacon Roofing Supply by 467.9% during the 4th quarter. Morgan Stanley now owns 1,313,406 shares of the company’s stock worth $69,335,000 after purchasing an additional 1,082,141 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BECN has been the topic of a number of recent analyst reports. TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. BMO Capital Markets lifted 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 raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $99.00 to $115.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. decreased their price objective on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. Finally, William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Insider Activity

In other news, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction of $306,767.16. Following the completion of the sale, the executive vice president now owns 176 shares in the company, valued at approximately $16,521.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction of $306,767.16. Following the completion of the sale, the executive vice president now owns 176 shares in the company, valued at approximately $16,521.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.

Beacon Roofing Supply Stock Down 0.9 %

BECN stock opened at $96.26 on Tuesday. 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 firm has a market capitalization of $6.11 billion, a PE ratio of -204.81 and a beta of 1.63. Beacon Roofing Supply, Inc. has a twelve month low of $56.94 and a twelve month high of $102.83. The stock has a 50-day simple moving average of $90.79 and a two-hundred day simple moving average of $84.02.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.18 EPS. On average, equities analysts predict that Beacon Roofing Supply, Inc. will post 7.85 EPS 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.