7,103 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the third quarter, HoldingsChannel reports. The fund acquired 7,103 shares of the company’s stock, valued at approximately $614,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its stake in shares of Beacon Roofing Supply by 0.3% during the third quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock valued at $85,887,000 after purchasing an additional 2,607 shares during the last quarter. Citigroup Inc. lifted its holdings in Beacon Roofing Supply by 1,192.1% during the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock worth $44,398,000 after buying an additional 473,937 shares in the last quarter. Eagle Asset Management Inc. boosted its position in Beacon Roofing Supply by 2.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 142,980 shares of the company’s stock valued at $12,358,000 after buying an additional 3,156 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Beacon Roofing Supply by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock valued at $52,182,000 after buying an additional 5,497 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Beacon Roofing Supply during the third quarter worth $1,441,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock opened at $112.79 on Friday. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $116.30. 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 company has a market capitalization of $6.98 billion, a PE ratio of 19.28 and a beta of 1.54. The stock’s fifty day simple moving average is $96.10 and its 200 day simple moving average is $93.36.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BECN. Robert W. Baird lifted their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Royal Bank of Canada increased their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Finally, Stephens reissued an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Insider Transactions at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now owns 9,131 shares of the company’s stock, valued at $821,790. This represents a 22.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the sale, the insider now owns 69,449 shares in the company, valued at approximately $7,162,969.86. The trade was a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,874 shares of company stock valued at $1,812,146 over the last 90 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.