Parkside Financial Bank & Trust Acquires 423 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Parkside Financial Bank & Trust increased its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 86.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 910 shares of the company’s stock after acquiring an additional 423 shares during the period. Parkside Financial Bank & Trust’s holdings in Beacon Roofing Supply were worth $79,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Exchange Traded Concepts LLC lifted its stake in 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 purchasing an additional 325 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Beacon Roofing Supply during the third quarter worth $98,000. CI Investments Inc. purchased a new stake in shares of Beacon Roofing Supply during the third quarter worth $157,000. Cannon Global Investment Management LLC purchased a new stake in shares of Beacon Roofing Supply during the third quarter worth $208,000. Finally, AlphaMark Advisors LLC bought a new position in shares of Beacon Roofing Supply in the third quarter worth $244,000. 98.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $99.00 to $115.00 in a report on Thursday, February 29th. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. dropped 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. Finally, William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.92.

Insiders Place Their Bets

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

Beacon Roofing Supply Stock Up 0.4 %

BECN stock opened at $97.56 on Friday. The firm has a 50 day moving average price of $92.11 and a 200-day moving average price of $84.91. 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 announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share 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 the consensus estimate of $2.27 billion. During the same period last year, the business earned $1.18 EPS. Beacon Roofing Supply’s revenue was up 16.8% on a year-over-year basis. As a group, research analysts forecast that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current year.

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.