Wedge Capital Management L L P NC Buys 2,394 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Wedge Capital Management L L P NC increased its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,093 shares of the company’s stock after buying an additional 2,394 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Beacon Roofing Supply were worth $6,709,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its position in shares of Beacon Roofing Supply by 49.4% during the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after purchasing an additional 161 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Beacon Roofing Supply by 63.6% in the third quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after acquiring an additional 325 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Beacon Roofing Supply in the third quarter valued at about $98,000. CI Investments Inc. bought a new stake in shares of Beacon Roofing Supply in the third quarter valued at about $157,000. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Beacon Roofing Supply in the third quarter valued at about $208,000. 98.45% of the stock is currently owned by institutional investors.

Insider Transactions at Beacon Roofing Supply

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

Beacon Roofing Supply Trading Up 1.6 %

Shares of NASDAQ BECN opened at $97.55 on Wednesday. The business’s 50 day moving average price is $91.65 and its 200 day moving average price is $84.67. Beacon Roofing Supply, Inc. has a 52 week low of $56.94 and a 52 week high of $102.83. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the company posted $1.18 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities analysts predict that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BECN has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Loop Capital boosted their target price on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $99.00 to $115.00 in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

About Beacon Roofing Supply

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.