Wolverine Asset Management LLC purchased a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $1,065,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. We Are One Seven LLC boosted its stake in shares of Beacon Roofing Supply by 194.6% during the 1st quarter. We Are One Seven LLC now owns 1,918 shares of the company’s stock worth $102,000 after acquiring an additional 1,267 shares in the last quarter. Suntrust Banks Inc. bought a new stake in shares of Beacon Roofing Supply during the 1st quarter worth about $211,000. SG Americas Securities LLC bought a new stake in shares of Beacon Roofing Supply during the 1st quarter worth about $244,000. Eqis Capital Management Inc. bought a new stake in shares of Beacon Roofing Supply during the 2nd quarter worth about $261,000. Finally, CIBC World Markets Inc. bought a new stake in shares of Beacon Roofing Supply during the 2nd quarter worth about $277,000.
Beacon Roofing Supply stock traded down $0.48 during trading hours on Friday, hitting $33.34. The stock had a trading volume of 873,388 shares, compared to its average volume of 1,014,349. The company has a quick ratio of 1.14, a current ratio of 2.07 and a debt-to-equity ratio of 1.63. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.63 and a beta of 1.15. Beacon Roofing Supply, Inc. has a fifty-two week low of $32.66 and a fifty-two week high of $66.47.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.14). The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.07 billion. Beacon Roofing Supply had a net margin of 1.65% and a return on equity of 9.94%. During the same period last year, the company earned $0.84 EPS. On average, analysts expect that Beacon Roofing Supply, Inc. will post 3.03 earnings per share for the current fiscal year.
BECN has been the subject of several research analyst reports. ValuEngine raised Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 21st. BidaskClub raised Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. Citigroup raised Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, June 19th. Royal Bank of Canada cut Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, June 27th. Finally, Evercore ISI initiated coverage on Beacon Roofing Supply in a research report on Thursday, June 28th. They set an “outperform” rating and a $61.00 price objective for the company. Four analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $51.50.
In other news, Director Philip Knisely purchased 6,000 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was purchased at an average price of $37.14 per share, with a total value of $222,840.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at approximately $222,840. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Cd&R Investment Associates Ix, purchased 314,400 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was purchased at an average cost of $38.77 per share, with a total value of $12,189,288.00. The disclosure for this purchase can be found here. Corporate insiders own 0.77% of the company’s stock.
Beacon Roofing Supply Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.
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