Comerica Bank Buys 36,435 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Comerica Bank increased its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 45.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 117,323 shares of the company's stock after purchasing an additional 36,435 shares during the quarter. Comerica Bank owned 0.19% of Beacon Roofing Supply worth $11,918,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Beacon Roofing Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock valued at $661,235,000 after buying an additional 24,027 shares during the period. Boston Partners raised its holdings in shares of Beacon Roofing Supply by 1.3% during the 4th quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after buying an additional 59,630 shares during the period. Invesco Ltd. lifted its position in Beacon Roofing Supply by 7.4% during the 4th quarter. Invesco Ltd. now owns 1,248,349 shares of the company's stock worth $126,807,000 after acquiring an additional 86,209 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Beacon Roofing Supply by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company's stock worth $103,011,000 after acquiring an additional 20,372 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Beacon Roofing Supply by 2.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company's stock valued at $100,076,000 after purchasing an additional 22,122 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BECN. BMO Capital Markets reaffirmed a "market perform" rating and issued a $124.35 target price (down from $130.00) on shares of Beacon Roofing Supply in a research report on Thursday, April 17th. Robert W. Baird increased their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Baird R W cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. Zelman & Associates cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Finally, Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their target price for the company from $131.00 to $122.55 in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $124.78.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ BECN remained flat at $124.17 during trading on Tuesday. The stock's 50-day moving average is $121.61 and its 200-day moving average is $112.98. The firm has a market capitalization of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.43 billion. As a group, sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Insider Transactions at Beacon Roofing Supply

In other news, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value 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 represents a 97.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the transaction, the insider now directly owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,806 shares of company stock worth $6,745,448 in the last ninety days. Company insiders own 1.30% of the company's stock.

Beacon Roofing Supply Profile

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.