Plato Investment Management Ltd Buys 648 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Plato Investment Management Ltd grew its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 140.3% in the first quarter, Holdings Channel reports. The fund owned 1,110 shares of the company’s stock after acquiring an additional 648 shares during the quarter. Plato Investment Management Ltd’s holdings in Beacon Roofing Supply were worth $109,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Beacon Roofing Supply during the 1st quarter valued at approximately $26,000. PNC Financial Services Group Inc. lifted its stake in shares of Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after buying an additional 203 shares in the last quarter. Quarry LP lifted its stake in shares of Beacon Roofing Supply by 127.1% during the 4th quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after buying an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at approximately $36,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Beacon Roofing Supply by 86.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 910 shares of the company’s stock valued at $79,000 after buying an additional 423 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 2,955 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $91.11, for a total transaction of $269,230.05. Following the sale, the executive vice president now directly owns 320 shares in the company, valued at approximately $29,155.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BECN. StockNews.com cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. 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 report on Thursday, April 11th. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Truist Financial raised their price objective on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $109.45.

Beacon Roofing Supply Stock Down 4.4 %

Shares of NASDAQ:BECN traded down $4.53 during trading on Thursday, hitting $98.27. The stock had a trading volume of 974,451 shares, compared to its average volume of 697,881. Beacon Roofing Supply, Inc. has a 12 month low of $68.50 and a 12 month high of $105.42. The company has a market capitalization of $6.25 billion, a PE ratio of -155.98 and a beta of 1.58. The firm’s fifty day moving average is $95.51 and its 200 day moving average is $92.67. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.80). The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.66 EPS. Analysts anticipate that Beacon Roofing Supply, Inc. will post 7.79 EPS 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.