Beacon Roofing Supply, Inc. (NASDAQ:BECN) Holdings Boosted by Headlands Technologies LLC

Headlands Technologies LLC boosted its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 126.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,865 shares of the company’s stock after acquiring an additional 1,599 shares during the period. Headlands Technologies LLC’s holdings in Beacon Roofing Supply were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BECN. Exchange Traded Concepts LLC raised its holdings in shares of Beacon Roofing Supply by 63.6% during the third quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after buying an additional 325 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Beacon Roofing Supply by 21.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,400 shares of the company’s stock valued at $1,111,000 after buying an additional 2,500 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Beacon Roofing Supply by 5.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,209 shares of the company’s stock valued at $325,000 after buying an additional 200 shares during the last quarter. Xponance Inc. raised its holdings in shares of Beacon Roofing Supply by 10.5% during the third quarter. Xponance Inc. now owns 3,315 shares of the company’s stock valued at $256,000 after buying an additional 314 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Beacon Roofing Supply by 76.2% during the third quarter. Raymond James & Associates now owns 38,263 shares of the company’s stock valued at $2,953,000 after buying an additional 16,552 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the transaction, the executive vice president now owns 176 shares in the company, valued at $16,521.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the transaction, the executive vice president now owns 176 shares of the company’s stock, valued at approximately $16,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the transaction, the insider now directly owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $99.00 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. Beacon Roofing Supply, Inc. has a 1 year low of $57.01 and a 1 year high of $102.83. The firm’s 50 day moving average price is $92.59 and its two-hundred day moving average price is $85.20.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 EPS. Sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BECN. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th. Benchmark assumed coverage on shares of Beacon Roofing Supply in a research note on Thursday, April 18th. They set a “buy” rating and a $135.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Finally, Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $99.00 to $115.00 in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.92.

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.