Shay Capital LLC Purchases New Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Shay Capital LLC purchased a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,000 shares of the company’s stock, valued at approximately $711,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BECN. Charles Schwab Investment Management Inc. boosted its holdings in shares of Beacon Roofing Supply by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock worth $62,489,000 after buying an additional 11,426 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter worth $11,185,000. Hsbc Holdings PLC grew its holdings in shares of Beacon Roofing Supply by 188.8% during the fourth quarter. Hsbc Holdings PLC now owns 26,908 shares of the company’s stock valued at $2,741,000 after buying an additional 17,591 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Beacon Roofing Supply during the fourth quarter valued at $24,162,000. Finally, Barclays PLC raised its position in Beacon Roofing Supply by 272.0% during the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after buying an additional 89,222 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity

In related news, insider Jonathan Stuart Bennett sold 8,487 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the completion of the transaction, the insider now owns 22,642 shares of the company’s stock, valued at approximately $2,765,493.88. The trade was a 27.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the sale, the executive vice president now owns 463 shares of the company’s stock, valued at approximately $57,231.43. The trade was a 97.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,806 shares of company stock valued at $6,745,448 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BECN. StockNews.com initiated coverage on Beacon Roofing Supply in a research note on Monday. They set a “sell” rating on the stock. Benchmark reaffirmed a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Baird R W lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.78.

Beacon Roofing Supply Price Performance

NASDAQ BECN opened at $124.17 on Friday. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $124.31. The stock’s 50-day moving average is $123.09 and its two-hundred day moving average is $114.32. The firm has a market cap of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

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.