Raymond James Financial Services Advisors Inc. Invests $952,000 in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,942 shares of the company's stock, valued at approximately $952,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust acquired a new stake in shares of Beacon Roofing Supply during the 2nd quarter worth approximately $27,000. Exchange Traded Concepts LLC raised its position in shares of Beacon Roofing Supply by 63.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 836 shares of the company's stock worth $65,000 after purchasing an additional 325 shares during the period. Advisor Group Holdings Inc. raised its position in shares of Beacon Roofing Supply by 37.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company's stock worth $65,000 after purchasing an additional 300 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth approximately $98,000. Finally, Osaic Holdings Inc. raised its position in shares of Beacon Roofing Supply by 43.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,114 shares of the company's stock worth $127,000 after purchasing an additional 641 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Beacon Roofing Supply Price Performance

Shares of BECN stock traded down $1.63 during mid-day trading on Tuesday, hitting $94.63. 405,593 shares of the stock traded hands, compared to its average volume of 719,408. Beacon Roofing Supply, Inc. has a twelve month low of $56.94 and a twelve month high of $102.83. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -201.34 and a beta of 1.63. The company's 50-day simple moving average is $91.02 and its 200-day simple moving average is $84.14. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business posted $1.18 earnings per share. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.85 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 11th. StockNews.com upgraded Beacon Roofing Supply from a "hold" rating to a "buy" rating in a research report on Tuesday. Robert W. Baird raised Beacon Roofing Supply from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $99.00 to $115.00 in a report on Thursday, February 29th. Stifel Nicolaus increased their price objective on Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a "buy" rating in a report on Tuesday, December 19th. Finally, Loop Capital increased their price objective on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Beacon Roofing Supply has a consensus rating of "Moderate Buy" and a consensus price target of $100.00.

Insider Activity

In other news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the transaction, the executive vice president now owns 176 shares in the company, valued at $16,521.12. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.