Gilder Gagnon Howe & Co. LLC Sells 8,231 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Gilder Gagnon Howe & Co. LLC cut its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,759 shares of the company's stock after selling 8,231 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned approximately 0.22% of Beacon Roofing Supply worth $13,689,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Baird R W lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Loop Capital reiterated a "hold" rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, March 21st. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Finally, Benchmark reiterated a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $121.47.

Insider Activity at Beacon Roofing Supply

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction dated 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 sale, the insider now owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. The trade was a 27.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the completion of the transaction, the executive vice president now directly owns 463 shares of the company's stock, valued at approximately $57,231.43. The trade was a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,806 shares of company stock worth $6,745,448 over the last quarter. Corporate insiders own 1.30% of the company's stock.

Beacon Roofing Supply Stock Performance

Shares of BECN stock remained flat at $124.17 during mid-day trading on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The business's fifty day moving average price is $120.93 and its 200-day moving average price is $112.04. The firm has a market cap of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $124.31.

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

Beacon Roofing Supply Company 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.