Sapience Investments LLC lessened its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 41.8% during the second quarter, Holdings Channel.com reports. The fund owned 470,055 shares of the company’s stock after selling 337,495 shares during the period. Beacon Roofing Supply comprises 2.4% of Sapience Investments LLC’s investment portfolio, making the stock its 7th largest position. Sapience Investments LLC’s holdings in Beacon Roofing Supply were worth $17,260,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Hardy Reed LLC bought a new position in Beacon Roofing Supply during the 2nd quarter worth $84,000. Strs Ohio increased its stake 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 valued at $121,000 after purchasing an additional 1,300 shares during the last quarter. We Are One Seven LLC bought a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at $200,000. Cim Investment Mangement Inc. bought a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at $202,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Beacon Roofing Supply in the 1st quarter valued at $234,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.
Several equities analysts have recently issued reports on BECN shares. SunTrust Banks set a $40.00 price target on Beacon Roofing Supply and gave the company a “buy” rating in a research note on Wednesday, August 7th. Wedbush reiterated a “neutral” rating and issued a $33.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, August 7th. Stephens set a $37.00 price target on Beacon Roofing Supply and gave the company an “overweight” rating in a research note on Wednesday, August 7th. BidaskClub upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Raymond James set a $38.00 price target on Beacon Roofing Supply and gave the company a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus target price of $34.93.
In other news, major shareholder Cd&R Investment Associates Ix, acquired 4,625,998 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $34.17 per share, for a total transaction of $158,070,351.66. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.
BECN stock traded down $0.01 during midday trading on Monday, reaching $34.92. 210,396 shares of the stock were exchanged, compared to its average volume of 620,362. The stock has a market capitalization of $2.40 billion, a PE ratio of 12.93, a P/E/G ratio of 1.38 and a beta of 1.44. Beacon Roofing Supply, Inc. has a 52 week low of $24.97 and a 52 week high of $41.23. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.07 and a quick ratio of 1.17. The company has a fifty day moving average price of $32.35 and a 200 day moving average price of $35.02.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.32). The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.99 billion. Beacon Roofing Supply had a return on equity of 9.63% and a net margin of 0.15%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 EPS. As a group, analysts anticipate that Beacon Roofing Supply, Inc. will post 2.48 earnings per share for the current fiscal year.
Beacon Roofing Supply Company 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.
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