Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECNFree Report) by 145.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 343 shares of the company’s stock after purchasing an additional 203 shares during the period. PNC Financial Services Group Inc.’s holdings in Beacon Roofing Supply were worth $30,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quantedge Capital Pte Ltd purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter worth about $2,498,000. Teacher Retirement System of Texas boosted its stake in shares of Beacon Roofing Supply by 87.1% during the 4th quarter. Teacher Retirement System of Texas now owns 49,733 shares of the company’s stock worth $4,328,000 after acquiring an additional 23,149 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter worth about $2,439,000. Goldman Sachs Group Inc. boosted its stake in shares of Beacon Roofing Supply by 11.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock worth $52,411,000 after acquiring an additional 62,690 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter worth about $711,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 2,955 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $91.11, for a total value of $269,230.05. Following the completion of the sale, the executive vice president now directly owns 320 shares of the company’s stock, valued at $29,155.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BECN. StockNews.com lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Loop Capital raised 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 note on Monday, April 1st. BMO Capital Markets raised their price target on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased 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, Benchmark started coverage on shares of Beacon Roofing Supply in a report on Thursday, April 18th. They set a “buy” rating and a $135.00 price target for the company. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply has an average rating of “Moderate Buy” and a consensus target price of $109.45.

Check Out Our Latest Research Report on Beacon Roofing Supply

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $89.75 on Tuesday. The stock has a market capitalization of $5.71 billion, a PE ratio of -142.46 and a beta of 1.58. The firm has a 50 day moving average of $94.85 and a two-hundred day moving average of $91.41. Beacon Roofing Supply, Inc. has a 52 week low of $68.50 and a 52 week high of $103.75. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47.

Beacon Roofing Supply (NASDAQ:BECNGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. On average, research analysts predict that Beacon Roofing Supply, Inc. will post 7.79 EPS for the current fiscal year.

Beacon Roofing Supply Company 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.

Further Reading

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

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