Beacon Roofing Supply, Inc. (BECN) Position Boosted by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 18.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,578 shares of the company’s stock after acquiring an additional 2,090 shares during the quarter. Bank of Montreal Can’s holdings in Beacon Roofing Supply were worth $866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BECN. Parametric Portfolio Associates LLC raised its position in Beacon Roofing Supply by 5.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 115,779 shares of the company’s stock valued at $5,673,000 after purchasing an additional 6,324 shares in the last quarter. State Street Corp raised its position in Beacon Roofing Supply by 6.8% during the 2nd quarter. State Street Corp now owns 1,191,496 shares of the company’s stock valued at $58,385,000 after purchasing an additional 75,732 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Beacon Roofing Supply by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,427 shares of the company’s stock valued at $2,275,000 after purchasing an additional 517 shares in the last quarter. Verition Fund Management LLC bought a new stake in Beacon Roofing Supply during the 2nd quarter valued at $383,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Beacon Roofing Supply during the 2nd quarter valued at $312,000. Institutional investors own 99.69% of the company’s stock.

A number of equities research analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $52.00 target price (down from $70.00) on shares of Beacon Roofing Supply in a research report on Tuesday, February 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Zacks Investment Research lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 22nd. Jefferies Group reaffirmed a “buy” rating and set a $73.00 target price on shares of Beacon Roofing Supply in a research report on Wednesday, January 17th. Finally, Citigroup decreased their target price on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Beacon Roofing Supply currently has an average rating of “Buy” and a consensus target price of $60.45.

Beacon Roofing Supply, Inc. (NASDAQ BECN) opened at $54.53 on Monday. The company has a market capitalization of $3,710.00, a price-to-earnings ratio of 33.87, a PEG ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 1.09, a current ratio of 4.60 and a quick ratio of 1.35. Beacon Roofing Supply, Inc. has a 1 year low of $39.57 and a 1 year high of $66.47.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.14. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Beacon Roofing Supply had a return on equity of 9.60% and a net margin of 3.29%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. research analysts anticipate that Beacon Roofing Supply, Inc. will post 3.56 earnings per share for the current year.

In other news, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the completion of the transaction, the executive vice president now directly owns 7,056 shares of the company’s stock, valued at approximately $421,596. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.

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Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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