Atria Investments LLC Purchases 4,845 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

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Atria Investments LLC lifted its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 65.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,224 shares of the company’s stock after purchasing an additional 4,845 shares during the quarter. Atria Investments LLC’s holdings in Beacon Roofing Supply were worth $375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BECN. Griffin Asset Management Inc. bought a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth about $37,000. Point72 Hong Kong Ltd grew its holdings in shares of Beacon Roofing Supply by 13,564.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,913 shares of the company’s stock worth $70,000 after purchasing an additional 1,899 shares during the last quarter. Hardy Reed LLC bought a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth about $84,000. Strs Ohio grew its holdings in shares of Beacon Roofing Supply by 65.0% in the 2nd quarter. Strs Ohio now owns 3,300 shares of the company’s stock worth $121,000 after purchasing an additional 1,300 shares during the last quarter. Finally, We Are One Seven LLC bought a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth about $200,000.

Shares of NASDAQ:BECN opened at $30.50 on Friday. Beacon Roofing Supply, Inc. has a 12 month low of $24.97 and a 12 month high of $40.00. The company’s 50-day moving average price is $32.43 and its two-hundred day moving average price is $34.73. The company has a quick ratio of 1.17, a current ratio of 2.07 and a debt-to-equity ratio of 1.59. The firm has a market cap of $2.09 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.01 and a beta of 1.42.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Tuesday, August 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.32). Beacon Roofing Supply had a net margin of 0.15% and a return on equity of 9.63%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts predict that Beacon Roofing Supply, Inc. will post 2.39 earnings per share for the current fiscal year.

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 3,207,200 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were bought at an average cost of $32.08 per share, for a total transaction of $102,886,976.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Several equities research analysts have recently weighed in on BECN shares. Stephens set a $37.00 target price on shares of Beacon Roofing Supply and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Wedbush reissued a “neutral” rating and set a $33.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered shares of Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a report on Thursday, September 26th. BidaskClub lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Evercore ISI reissued a “hold” rating and set a $31.00 price objective on shares of Beacon Roofing Supply in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $34.64.

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 solar systems.

Read More: Cost of Goods Sold (COGS)

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

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