Scientech Research LLC Grows Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Scientech Research LLC raised its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 23.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,184 shares of the company’s stock after purchasing an additional 993 shares during the period. Scientech Research LLC’s holdings in Beacon Roofing Supply were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. increased its stake in shares of Beacon Roofing Supply by 2.4% during the fourth quarter. Eagle Asset Management Inc. now owns 156,284 shares of the company’s stock valued at $13,600,000 after buying an additional 3,591 shares during the period. Rafferty Asset Management LLC grew its holdings in Beacon Roofing Supply by 40.0% during the 4th quarter. Rafferty Asset Management LLC now owns 17,877 shares of the company’s stock worth $1,556,000 after acquiring an additional 5,108 shares in the last quarter. Quantedge Capital Pte Ltd purchased a new position in Beacon Roofing Supply during the 4th quarter valued at about $2,498,000. Vinva Investment Management Ltd bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $242,000. Finally, Ratan Capital Management LP purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter worth approximately $957,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BECN has been the topic of several research reports. Robert W. Baird cut 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. 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, Royal Bank of Canada reduced their price target 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. 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.30.

Insiders Place Their Bets

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

Beacon Roofing Supply Stock Up 0.2 %

Shares of BECN stock opened at $87.72 on Monday. The stock’s fifty day moving average price is $87.97 and its 200 day moving average price is $92.84. Beacon Roofing Supply, Inc. has a 1-year low of $68.50 and a 1-year high of $105.42. The company has a market cap of $5.58 billion, a price-to-earnings ratio of -139.24 and a beta of 1.55. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09.

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

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.