New York State Teachers Retirement System Increases Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

New York State Teachers Retirement System increased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 46.1% during the 4th quarter, Holdings Channel reports. The firm owned 5,190 shares of the company’s stock after purchasing an additional 1,638 shares during the quarter. New York State Teachers Retirement System’s holdings in Beacon Roofing Supply were worth $452,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of Beacon Roofing Supply by 25.2% in the third quarter. Deutsche Bank AG now owns 30,866 shares of the company’s stock worth $2,382,000 after purchasing an additional 6,210 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Beacon Roofing Supply by 80.2% in the third quarter. Teacher Retirement System of Texas now owns 26,584 shares of the company’s stock worth $2,051,000 after purchasing an additional 11,828 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Beacon Roofing Supply in the third quarter worth approximately $6,442,000. Hsbc Holdings PLC increased its position in shares of Beacon Roofing Supply by 145.5% in the third quarter. Hsbc Holdings PLC now owns 75,186 shares of the company’s stock worth $5,834,000 after purchasing an additional 44,564 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Beacon Roofing Supply by 19.3% in the third 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 last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $93.42 on Friday. The firm has a market cap of $5.93 billion, a PE ratio of -198.77 and a beta of 1.63. Beacon Roofing Supply, Inc. has a fifty-two week low of $56.94 and a fifty-two week high of $102.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. The business has a 50 day moving average price of $91.33 and a 200-day moving average price of $84.27.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data 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 business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the company posted $1.18 EPS. Equities research analysts predict that Beacon Roofing Supply, Inc. will post 7.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on BECN shares. Benchmark assumed coverage on shares of Beacon Roofing Supply in a research report on Thursday. They issued a “buy” rating and a $135.00 price objective on the stock. Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and increased their price target for the company from $99.00 to $115.00 in a research report on Thursday, February 29th. StockNews.com upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Tuesday. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, Loop Capital increased their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.92.

Insider Buying and Selling

In related news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s 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 owns 176 shares of the company’s stock, valued at $16,521.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jason L. Taylor sold 1,805 shares of the firm’s 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 owns 10,531 shares of the company’s stock, valued at $1,000,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s 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 disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

About Beacon Roofing Supply

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.