Xponance Inc. Raises Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Xponance Inc. grew its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 12.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,723 shares of the company’s stock after purchasing an additional 408 shares during the quarter. Xponance Inc.’s holdings in Beacon Roofing Supply were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in shares of Beacon Roofing Supply by 49.4% during the 3rd 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 last quarter. Exchange Traded Concepts LLC grew its stake in shares of Beacon Roofing Supply by 63.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after acquiring an additional 325 shares during the period. Headlands Technologies LLC bought a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at approximately $98,000. CI Investments Inc. bought a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at approximately $157,000. Finally, AlphaMark Advisors LLC bought a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at approximately $244,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 1.5 %

NASDAQ BECN opened at $99.00 on Friday. 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 company has a market capitalization of $6.28 billion, a P/E ratio of -210.64 and a beta of 1.63. Beacon Roofing Supply, Inc. has a one year low of $57.01 and a one year high of $102.83. The stock has a 50 day moving average price of $92.59 and a 200-day moving average price of $85.15.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate 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 revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 earnings per share. As a group, equities analysts predict that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current fiscal year.

Insider Activity

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 transaction of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at approximately $1,000,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at approximately $1,000,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction on 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 in the company, valued at approximately $16,521.12. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

BECN has been the subject of a number of recent research reports. TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. dropped their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. BMO Capital Markets upped their price target on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Benchmark started coverage on Beacon Roofing Supply in a research note on Thursday, April 18th. They issued a “buy” rating and a $135.00 price target for the company. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

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.