Tidal Investments LLC Buys 530 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Tidal Investments LLC raised its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 11.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,022 shares of the company’s stock after purchasing an additional 530 shares during the period. Tidal Investments LLC’s holdings in Beacon Roofing Supply were worth $434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. US Bancorp DE grew its stake in shares of Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after buying an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Beacon Roofing Supply by 2.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock valued at $501,000 after acquiring an additional 147 shares during the period. Equitable Trust Co. increased its holdings in shares of Beacon Roofing Supply by 2.2% during the third quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock valued at $614,000 after acquiring an additional 156 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Beacon Roofing Supply by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock worth $234,000 after purchasing an additional 181 shares during the period. Finally, Quarry LP lifted its holdings in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BECN shares. Stephens restated an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada raised their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.88.

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $101.32 on Tuesday. The stock has a 50 day moving average of $103.14 and a 200 day moving average of $94.82. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 17.32 and a beta of 1.59. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $116.30. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the sale, the insider now owns 6,531 shares of the company’s stock, valued at approximately $718,410. The trade was a 28.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,874 shares of company stock worth $1,812,146 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply Company 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.