Creative Planning Buys 2,575 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Creative Planning boosted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 29.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,177 shares of the company’s stock after acquiring an additional 2,575 shares during the period. Creative Planning’s holdings in Beacon Roofing Supply were worth $1,012,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BECN. Brightline Capital Management LLC purchased a new position in Beacon Roofing Supply during the 4th quarter valued at about $8,354,000. Goodnow Investment Group LLC purchased a new position in Beacon Roofing Supply in the fourth quarter worth about $1,700,000. Quarry LP raised its holdings in Beacon Roofing Supply by 127.1% in the fourth quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after buying an additional 225 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $218,000. Finally, Virtu Financial LLC purchased a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $711,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Beacon Roofing Supply Stock Performance

BECN opened at $90.78 on Friday. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of -144.10 and a beta of 1.55. The company has a fifty day moving average of $86.22 and a 200 day moving average of $92.72. Beacon Roofing Supply, Inc. has a fifty-two week low of $68.50 and a fifty-two week high of $105.42. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.47). The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.66 earnings per share. As a group, sell-side analysts forecast 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, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the transaction, the insider now owns 9,131 shares in the company, valued at $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Beacon Roofing Supply news, CFO Prithvi Gandhi acquired 5,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $411,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the transaction, the insider now owns 9,131 shares of the company’s stock, valued at $821,790. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

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.