CIBC Private Wealth Group LLC Sells 1,139 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

CIBC Private Wealth Group LLC lowered its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECNFree Report) by 14.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,974 shares of the company’s stock after selling 1,139 shares during the period. CIBC Private Wealth Group LLC’s holdings in Beacon Roofing Supply were worth $607,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. bought a new position in Beacon Roofing Supply during the fourth quarter worth $36,000. Parkside Financial Bank & Trust increased its stake in Beacon Roofing Supply by 49.4% in 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 in the last quarter. Headlands Technologies LLC bought a new stake in Beacon Roofing Supply in the third quarter valued at $98,000. CI Investments Inc. bought a new stake in Beacon Roofing Supply in the third quarter valued at $157,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Beacon Roofing Supply in the fourth quarter valued at $253,000. Institutional investors own 98.45% of the company’s stock.

Insider Activity

In related 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 sale, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of the business’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 value of $171,475.00. Following the completion of the transaction, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christopher Carl Nelson sold 3,268 shares of the business’s 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 directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

BECN has been the subject of a number of analyst reports. Truist Financial lifted their price objective on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, May 3rd. BMO Capital Markets lifted their price objective on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Robert W. Baird lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Finally, TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Beacon Roofing Supply has an average rating of “Moderate Buy” and a consensus price target of $109.45.

Read Our Latest Stock Analysis on Beacon Roofing Supply

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $96.70 on Tuesday. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of -153.49 and a beta of 1.58. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.02 and a current ratio of 1.87. Beacon Roofing Supply, Inc. has a 52 week low of $68.50 and a 52 week high of $103.75. The firm’s 50-day simple moving average is $96.80 and its two-hundred day simple moving average is $89.98.

Beacon Roofing Supply (NASDAQ:BECNGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. As a group, equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.79 earnings per share for the current year.

Beacon Roofing Supply Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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