American Trust Sells 247 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

American Trust lowered its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,594 shares of the company’s stock after selling 247 shares during the period. American Trust’s holdings in Beacon Roofing Supply were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BECN. Allspring Global Investments Holdings LLC purchased a new stake in Beacon Roofing Supply in the first quarter worth $26,000. PNC Financial Services Group Inc. increased its holdings in Beacon Roofing Supply by 145.0% in 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 during the last quarter. Quarry LP raised its stake in Beacon Roofing Supply by 127.1% in the 4th quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after acquiring an additional 225 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Beacon Roofing Supply by 28.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after acquiring an additional 116 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in Beacon Roofing Supply by 140.3% during the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after purchasing an additional 648 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

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

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $85.35 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. The stock has a 50-day moving average price of $87.42 and a 200-day moving average price of $92.81. The company has a market cap of $5.43 billion, a PE ratio of -135.48 and a beta of 1.55. Beacon Roofing Supply, Inc. has a 12-month low of $68.50 and a 12-month high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the company 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 forecast that Beacon Roofing Supply, Inc. will post 7.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Stephens dropped their target price on 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. Finally, Robert W. Baird cut their price target on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.30.

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.