CastleKnight Management LP Boosts Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

CastleKnight Management LP increased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,100 shares of the company's stock after acquiring an additional 3,200 shares during the quarter. CastleKnight Management LP's holdings in Beacon Roofing Supply were worth $2,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BECN. Equitable Trust Co. grew its stake in Beacon Roofing Supply by 1.7% in the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company's stock worth $734,000 after purchasing an additional 122 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after acquiring an additional 150 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after acquiring an additional 163 shares during the period. Cornerstone Investment Partners LLC raised its stake in Beacon Roofing Supply by 3.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company's stock valued at $480,000 after buying an additional 166 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after acquiring an additional 196 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

BECN has been the subject of a number of analyst reports. Baird R W lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Robert W. Baird boosted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research note on Sunday. They issued a "sell" rating for the company. Benchmark reaffirmed a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Finally, Loop Capital restated a "hold" rating and set a $124.00 price target on shares of Beacon Roofing Supply in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Beacon Roofing Supply presently has a consensus rating of "Hold" and a consensus target price of $124.78.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock opened at $124.17 on Tuesday. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $124.31. The company has a market capitalization of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The stock's fifty day moving average is $121.44 and its two-hundred day moving average is $112.90. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

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

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the executive vice president now directly owns 463 shares in the company, 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 54,806 shares of company stock valued at $6,745,448 in the last ninety days. Corporate 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.

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