American Trust Has $475,000 Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

American Trust decreased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 8.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,841 shares of the company’s stock after selling 458 shares during the quarter. American Trust’s holdings in Beacon Roofing Supply were worth $475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantedge Capital Pte Ltd acquired a new stake in Beacon Roofing Supply in the 4th quarter worth about $2,498,000. Teacher Retirement System of Texas raised its position in shares of Beacon Roofing Supply by 87.1% in the 4th quarter. Teacher Retirement System of Texas now owns 49,733 shares of the company’s stock valued at $4,328,000 after buying an additional 23,149 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $2,439,000. Capstone Investment Advisors LLC acquired a new position in shares of Beacon Roofing Supply in the 1st quarter valued at approximately $1,664,000. Finally, Benson Investment Management Company Inc. acquired a new position in shares of Beacon Roofing Supply in the 1st quarter valued at approximately $3,807,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insiders Place Their Bets

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 2,955 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $91.11, for a total transaction of $269,230.05. Following the transaction, the executive vice president now owns 320 shares of the company’s stock, valued at approximately $29,155.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on BECN shares. StockNews.com cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. BMO Capital Markets boosted their target price 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. Benchmark started coverage on shares of Beacon Roofing Supply in a research report on Thursday, April 18th. They set a “buy” rating and a $135.00 price objective for the company. Truist Financial upped their price objective on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, Robert W. Baird lowered their price objective on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.00.

Beacon Roofing Supply Stock Down 13.1 %

BECN traded down $12.87 during trading on Friday, hitting $85.40. 2,831,446 shares of the company’s stock were exchanged, compared to its average volume of 673,079. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47. The business’s 50 day moving average is $95.34 and its two-hundred day moving average is $92.72. Beacon Roofing Supply, Inc. has a fifty-two week low of $68.50 and a fifty-two week high of $105.42. The stock has a market cap of $5.43 billion, a P/E ratio of -135.56 and a beta of 1.58.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a return on equity of 25.83% and a net margin of 4.11%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the company posted $2.66 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts expect that Beacon Roofing Supply, Inc. will post 7.79 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.