Raymond James & Associates owns $3.80 million in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Raymond James & Associates grew its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 471.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,029 shares of the company’s stock after purchasing an additional 34,679 shares during the period. Raymond James & Associates owned about 0.07% of Beacon Roofing Supply worth $3,804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BECN. Allspring Global Investments Holdings LLC purchased a new position in shares of Beacon Roofing Supply in the 1st quarter worth about $26,000. PNC Financial Services Group Inc. grew its position in shares of Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after acquiring an additional 203 shares in the last quarter. Quarry LP grew its position in shares of Beacon Roofing Supply by 127.1% during the 4th quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after purchasing an additional 225 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $36,000. Finally, Plato Investment Management Ltd boosted its position in shares of Beacon Roofing Supply by 140.3% in the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after purchasing an additional 648 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s shares.

Analysts on Wall Street are forecasting an increase

Several research firms have recently issued reports on BECN. Truist Financial upped their target price on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Stephens cut their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. StockNews.com cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Robert W. Baird cut their price target on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday , August 2. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Beacon Roofing Supply has an average rating of “Moderate Buy” and an average price target of $111.30, according to MarketBeat.com .

Check out our latest analysis on BECN

Insider buying and selling

In other news, CFO Prithvi Gandhi bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $82.29 per share, with a total value of $411,450.00. Following the completion of the acquisition, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $411,450. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the completion of the transaction, the executive vice president now directly owns 320 shares in the company, valued at $27,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, CFO Prithvi Gandhi acquired 5,000 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $82.29 per share, with a total value of $411,450.00. Following the completion of the acquisition, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $411,450. Disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Beacon Roofing Supply Price Performance

Shares of BECN stock opened at $90.60 on Friday. The company has a fifty day moving average price of $91.11 and a 200 day moving average price of $92.97. The company has a market cap of $5.76 billion, a P/E ratio of -143.81 and a beta of 1.58. Beacon Roofing Supply, Inc. it has a 52 week low of $68.50 and a 52 week high of $105.42. 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 (NASDAQ:BECN – Get Your Free Report ) last announced its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a return on equity of 25.83% and a net margin of 4.11%. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the business earned $2.66 EPS. Beacon Roofing Supply’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts expect that Beacon Roofing Supply, Inc. to post 7.79 EPS for the current year.

Beacon Roofing Supply Profile

(Free report)

Beacon Roofing Supply, Inc, together with its subsidiaries, is engaged 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 roofs and low-slope roofing products; gutters and siding; building materials such as lumber and composite, skylights and windows, plywood and OSB, flooring and railings, and HVAC products; and foam board, spray foam, roll, mineral wool, fiberglass and commercial insulation products as well as radiant barriers and blown insulation and equipment.

See Also

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