Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Bought by Comerica Bank

Comerica Bank lifted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 45.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,323 shares of the company's stock after purchasing an additional 36,435 shares during the period. Comerica Bank owned 0.19% of Beacon Roofing Supply worth $11,918,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $31,000. Johnson Financial Group Inc. acquired a new position in Beacon Roofing Supply during the 4th quarter worth approximately $54,000. PNC Financial Services Group Inc. lifted its holdings in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after acquiring an additional 163 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after acquiring an additional 150 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock worth $140,000 after purchasing an additional 196 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BECN has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research note on Sunday. They issued a "sell" rating for the company. Royal Bank of Canada cut Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and upped their price objective for the company from $124.00 to $124.35 in a research report on Wednesday, April 2nd. Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Baird R W cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Finally, William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $124.78.

Insiders Place Their Bets

In other news, insider Clement Munroe Best III sold 29,724 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the sale, the insider now owns 87,943 shares of the company's stock, valued at $10,821,386.15. The trade was a 25.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the sale, the insider now directly owns 22,642 shares of the company's stock, valued at $2,765,493.88. The trade was a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock valued at $6,745,448 in the last 90 days. Corporate insiders own 1.30% of the company's stock.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN remained flat at $124.17 during midday trading on Thursday. The business has a 50-day moving average price of $121.79 and a two-hundred day moving average price of $113.05. The company has a market capitalization of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $124.31. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

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

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.