Voleon Capital Management LP Purchases Shares of 3,805 Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Voleon Capital Management LP acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,805 shares of the company's stock, valued at approximately $387,000.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. Johnson Financial Group Inc. bought a new stake in Beacon Roofing Supply during the fourth quarter worth $54,000. PNC Financial Services Group Inc. grew its holdings in Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after purchasing an additional 163 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Beacon Roofing Supply by 26.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after purchasing an additional 150 shares during the period. Finally, Principal Securities Inc. raised its holdings in Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after acquiring an additional 196 shares during the period. Institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Stock Performance

Shares of BECN remained flat at $124.17 during trading hours on Monday. The company's 50-day moving average is $121.44 and its two-hundred day moving average is $112.90. The stock has a market cap of $7.67 billion, a price-to-earnings 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 1 year low of $77.54 and a 1 year high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The business had revenue of $2.40 billion during 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%. Sell-side analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Insider Activity

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 16,595 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 29,724 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $123.05, for a total value of $3,657,538.20. Following the completion of the transaction, the insider now directly owns 87,943 shares in the company, valued at approximately $10,821,386.15. This represents a 25.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BECN shares. Raymond James cut shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Zelman & Associates downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Baird R W cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Robert W. Baird lifted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Finally, Loop Capital restated a "hold" rating and issued a $124.00 price objective 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 issued a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of "Hold" and an average target price of $124.78.

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.