New York State Common Retirement Fund Buys 1,968 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

New York State Common Retirement Fund grew its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 8.9% in the 4th quarter, Holdings Channel reports. The firm owned 24,085 shares of the company’s stock after purchasing an additional 1,968 shares during the period. New York State Common Retirement Fund’s holdings in Beacon Roofing Supply were worth $2,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its stake in Beacon Roofing Supply by 5.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,209 shares of the company’s stock worth $325,000 after buying an additional 200 shares in the last quarter. Xponance Inc. lifted its stake in shares of Beacon Roofing Supply by 10.5% in the 3rd quarter. Xponance Inc. now owns 3,315 shares of the company’s stock valued at $256,000 after purchasing an additional 314 shares during the period. Raymond James & Associates boosted its position in shares of Beacon Roofing Supply by 76.2% during the third quarter. Raymond James & Associates now owns 38,263 shares of the company’s stock valued at $2,953,000 after purchasing an additional 16,552 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Beacon Roofing Supply by 5.7% in the third quarter. Bank of New York Mellon Corp now owns 253,366 shares of the company’s stock worth $19,552,000 after purchasing an additional 13,678 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Beacon Roofing Supply by 11.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,796 shares of the company’s stock worth $602,000 after purchasing an additional 785 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Beacon Roofing Supply Trading Down 1.7 %

Beacon Roofing Supply stock opened at $92.28 on Thursday. Beacon Roofing Supply, Inc. has a one year low of $57.88 and a one year high of $103.75. The business’s fifty day moving average is $94.16 and its 200 day moving average is $86.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06. The stock has a market capitalization of $5.85 billion, a PE ratio of -146.48 and a beta of 1.59.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly 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 company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.31% and a net margin of 4.47%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.18 earnings per share. On average, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.78 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. TheStreet upgraded shares of 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 shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, April 1st. StockNews.com downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Truist Financial lifted their price objective on Beacon Roofing Supply from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply has an average rating of “Moderate Buy” and an average target price of $107.64.

Insiders Place Their Bets

In other 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 transaction, the executive vice president now directly owns 176 shares in the company, valued at approximately $16,521.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were 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 of the company’s stock, valued at $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 the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 176 shares in the company, valued at $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.