Blueshift Asset Management LLC Purchases New Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Blueshift Asset Management LLC purchased a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 7,630 shares of the company’s stock, valued at approximately $659,000.

Several other institutional investors have also recently made changes to their positions in BECN. FMR LLC boosted its holdings in shares of Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after buying an additional 963,633 shares during the last quarter. Boston Partners lifted its stake in Beacon Roofing Supply by 79.6% in the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Beacon Roofing Supply by 0.3% in the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock valued at $85,887,000 after acquiring an additional 2,607 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Beacon Roofing Supply by 18.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock valued at $83,239,000 after acquiring an additional 152,030 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Beacon Roofing Supply by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company’s stock worth $52,182,000 after purchasing an additional 5,497 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BECN. Royal Bank of Canada lifted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Robert W. Baird increased their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stephens reissued an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 5,637 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the transaction, the insider now directly owns 69,514 shares in the company, valued at approximately $6,984,071.58. The trade was a 7.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the transaction, the insider now owns 6,531 shares of the company’s stock, valued at $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,874 shares of company stock valued at $1,812,146 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Trading Up 0.2 %

Shares of BECN stock opened at $112.79 on Thursday. The stock has a market cap of $6.98 billion, a P/E ratio of 19.28 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $116.30. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a 50 day simple moving average of $95.55 and a 200 day simple moving average of $93.22.

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.