Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 71.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the company’s stock after selling 50,103 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Beacon Roofing Supply were worth $1,960,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Quantedge Capital Pte Ltd acquired a new stake in Beacon Roofing Supply in the fourth quarter worth approximately $2,498,000. Teacher Retirement System of Texas lifted its position in Beacon Roofing Supply by 87.1% in the fourth quarter. Teacher Retirement System of Texas now owns 49,733 shares of the company’s stock worth $4,328,000 after purchasing an additional 23,149 shares during the period. National Bank of Canada FI acquired a new stake in Beacon Roofing Supply in the fourth quarter worth approximately $2,439,000. Capstone Investment Advisors LLC acquired a new stake in Beacon Roofing Supply in the first quarter worth approximately $1,664,000. Finally, Benson Investment Management Company Inc. acquired a new stake in Beacon Roofing Supply in the first quarter worth approximately $3,807,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Beacon Roofing Supply Stock Up 2.5 %

Shares of NASDAQ:BECN traded up $2.43 during midday trading on Thursday, hitting $98.35. 574,797 shares of the stock were exchanged, compared to its average volume of 694,922. 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 business’s fifty day simple moving average is $95.11 and its two-hundred day simple moving average is $92.16. The company has a market capitalization of $6.26 billion, a PE ratio of -157.17 and a beta of 1.58.

Beacon Roofing Supply (NASDAQ:BECN) last announced 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. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. As a group, research analysts predict that Beacon Roofing Supply, Inc. will post 7.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BECN. Benchmark initiated coverage on Beacon Roofing Supply in a research report on Thursday, April 18th. They issued a “buy” rating and a $135.00 target price for the company. JPMorgan Chase & Co. raised their price objective on Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Loop Capital raised their price objective on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. BMO Capital Markets raised their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Robert W. Baird raised their price objective on Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.45.

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.