Phoenix Financial Ltd. Acquires New Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Phoenix Financial Ltd. bought a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 4,141 shares of the company’s stock, valued at approximately $421,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. HighTower Advisors LLC lifted its position in shares of Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after acquiring an additional 181 shares in the last quarter. Quarry LP raised its stake in Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. State Street Corp raised its stake in Beacon Roofing Supply by 1.1% in the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock valued at $127,182,000 after purchasing an additional 15,505 shares during the last quarter. XTX Topco Ltd acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at about $266,000. Finally, MML Investors Services LLC purchased a new position in Beacon Roofing Supply in the 3rd quarter valued at about $268,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

BECN has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Royal Bank of Canada downgraded Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $124.00 to $124.35 in a report on Wednesday, April 2nd. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Finally, BMO Capital Markets decreased their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $122.10.

Beacon Roofing Supply Price Performance

BECN stock opened at $123.15 on Friday. The company has a market cap of $7.61 billion, a PE ratio of 21.05 and a beta of 1.31. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a 50-day moving average price of $119.61 and a two-hundred day moving average price of $108.84. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.43 billion. As a group, research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In related news, insider Clement Munroe Best III sold 29,724 shares of Beacon Roofing Supply stock in a transaction on Friday, April 4th. The shares were sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the transaction, the insider now owns 87,943 shares in the company, valued at approximately $10,821,386.15. The trade was a 25.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher Carl Nelson sold 16,595 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now directly owns 463 shares of the company’s stock, valued at approximately $57,231.43. This trade represents a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock worth $6,745,448 over the last ninety days. 1.30% of the stock is owned by company insiders.

About Beacon Roofing Supply

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.