78,123 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Purchased by Soros Fund Management LLC

Soros Fund Management LLC bought a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 78,123 shares of the company’s stock, valued at approximately $6,752,000.

A number of other institutional investors have also made changes to their positions in the business. Quarry LP boosted its position in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. Blue Trust Inc. lifted its stake in shares of Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 211 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth about $28,000. GAMMA Investing LLC lifted its position in Beacon Roofing Supply by 154.0% during the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after acquiring an additional 445 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after acquiring an additional 500 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Beacon Roofing Supply Trading Down 0.5 %

BECN opened at $113.10 on Friday. The company’s 50 day moving average price is $99.36 and its two-hundred day moving average price is $94.08. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 19.33 and a beta of 1.59. Beacon Roofing Supply, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $116.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the sale, the insider now owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the sale, the insider now owns 9,131 shares of the company’s stock, valued at approximately $821,790. The trade was a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,874 shares of company stock worth $1,812,146 over the last ninety days. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Company 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.