Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,077 shares of the company’s stock after buying an additional 445 shares during the quarter. Mackenzie Financial Corp’s holdings in Beacon Roofing Supply were worth $703,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of Beacon Roofing Supply by 49.4% during the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after purchasing an additional 161 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Beacon Roofing Supply by 63.6% during the third quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after purchasing an additional 325 shares during the period. Headlands Technologies LLC acquired a new position in shares of Beacon Roofing Supply during the third quarter valued at $98,000. CI Investments Inc. acquired a new position in shares of Beacon Roofing Supply during the third quarter valued at $157,000. Finally, Cannon Global Investment Management LLC acquired a new position in shares of Beacon Roofing Supply during the third quarter valued at $208,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply Trading Up 0.4 %

NASDAQ:BECN opened at $97.56 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. Beacon Roofing Supply, Inc. has a 1-year low of $56.94 and a 1-year high of $102.83. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of -207.57 and a beta of 1.63. The stock has a fifty day simple moving average of $92.11 and a 200 day simple moving average of $84.91.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly 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). Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business earned $1.18 EPS. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.8 earnings per share for the current year.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the sale, the executive vice president now owns 176 shares of the company’s stock, valued at $16,521.12. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BECN shares. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $99.00 to $115.00 in a report on Thursday, February 29th. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Loop Capital lifted their target price on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, BMO Capital Markets lifted their target price on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.92.

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.