Point72 Asia Singapore Pte. Ltd. Buys 747 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Point72 Asia Singapore Pte. Ltd. increased its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 59.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,014 shares of the company’s stock after acquiring an additional 747 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Beacon Roofing Supply were worth $182,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quantedge Capital Pte Ltd acquired a new stake in Beacon Roofing Supply in the fourth quarter worth $2,498,000. Capstone Investment Advisors LLC bought a new position in Beacon Roofing Supply during the first quarter worth about $1,664,000. Benson Investment Management Company Inc. acquired a new position in Beacon Roofing Supply in the first quarter valued at about $3,807,000. Goldman Sachs Group Inc. increased its holdings in shares of Beacon Roofing Supply by 11.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock worth $52,411,000 after acquiring an additional 62,690 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Beacon Roofing Supply in the fourth quarter worth about $711,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

BECN has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stephens reduced their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Robert W. Baird dropped their price objective on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.30.

Beacon Roofing Supply Stock Up 0.6 %

NASDAQ:BECN opened at $85.35 on Thursday. Beacon Roofing Supply, Inc. has a twelve month low of $68.50 and a twelve month high of $105.42. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -135.48 and a beta of 1.55. The company has a quick ratio of 1.09, a current ratio of 1.90 and a debt-to-equity ratio of 1.75. The stock’s 50 day moving average price is $87.42 and its two-hundred day moving average price is $92.81.

Beacon Roofing Supply (NASDAQ:BECN) last issued 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 26.02% and a net margin of 4.11%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the firm posted $2.66 earnings per share. Beacon Roofing Supply’s quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Beacon Roofing Supply

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

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.