GAMMA Investing LLC Purchases 134 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

GAMMA Investing LLC boosted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 913 shares of the company’s stock after acquiring an additional 134 shares during the quarter. GAMMA Investing LLC’s holdings in Beacon Roofing Supply were worth $113,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BECN. Nomura Asset Management Co. Ltd. raised its stake in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock worth $73,000 after purchasing an additional 150 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 shares during the period. Versant Capital Management Inc boosted its holdings in Beacon Roofing Supply by 133.7% in the 1st quarter. Versant Capital Management Inc now owns 388 shares of the company’s stock valued at $48,000 after purchasing an additional 222 shares during the period. Xponance Inc. boosted its holdings in Beacon Roofing Supply by 5.3% in the 4th quarter. Xponance Inc. now owns 5,016 shares of the company’s stock valued at $510,000 after purchasing an additional 251 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Beacon Roofing Supply by 10.4% in the 4th quarter. HighTower Advisors LLC now owns 2,943 shares of the company’s stock valued at $299,000 after purchasing an additional 278 shares during the period. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock opened at $124.17 on Monday. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $124.31. The firm’s 50-day moving average price is $124.17 and its two-hundred day moving average price is $119.12.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BECN. Raymond James Financial downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. Loop Capital reissued a “hold” rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Royal Bank Of Canada downgraded shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $124.00 to $124.35 in a report on Wednesday, April 2nd. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $124.35 price objective (down from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and a consensus price target of $124.78.

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.