Quest Partners LLC Takes Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Quest Partners LLC acquired a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,587 shares of the company's stock, valued at approximately $1,443,000.

Several other large investors also recently added to or reduced their stakes in BECN. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at about $36,000. Parkside Financial Bank & Trust grew its stake in Beacon Roofing Supply by 49.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company's stock worth $38,000 after buying an additional 161 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Beacon Roofing Supply in the 3rd quarter worth $98,000. CI Investments Inc. purchased a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at $157,000. Finally, Pearl River Capital LLC purchased a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at $252,000. Institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN traded up $2.08 during midday trading on Monday, reaching $98.17. 573,675 shares of the company's stock traded hands, compared to its average volume of 710,784. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.02 and a current ratio of 1.87. Beacon Roofing Supply, Inc. has a one year low of $63.42 and a one year high of $103.75. The company has a market cap of $6.24 billion, a price-to-earnings ratio of -155.83 and a beta of 1.59. The stock has a 50 day moving average of $95.74 and a 200 day moving average of $87.99.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm posted $1.18 earnings per share. The company's revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current fiscal year.

Insider Activity

In related news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the sale, the insider now owns 10,531 shares in the company, valued at approximately $1,000,445. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the business's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the sale, the executive vice president now owns 176 shares in the company, valued at approximately $16,521.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the transaction, the insider now owns 10,531 shares in the company, valued at $1,000,445. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

BECN has been the topic of a number of research reports. Robert W. Baird raised their price target on Beacon Roofing Supply from $115.00 to $117.00 and gave the company an "outperform" rating in a research report on Friday, May 3rd. StockNews.com downgraded Beacon Roofing Supply from a "buy" rating to a "hold" rating in a research report on Monday, May 6th. BMO Capital Markets increased their price target on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. TheStreet raised shares of Beacon Roofing Supply from a "c" rating to a "b-" rating in a research note on Tuesday, February 27th. Finally, Loop Capital upped their price objective on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.64.

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.