Scientech Research LLC Increases Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Scientech Research LLC grew its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 23.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,184 shares of the company’s stock after purchasing an additional 993 shares during the quarter. Scientech Research LLC’s holdings in Beacon Roofing Supply were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BECN. Eagle Asset Management Inc. increased its holdings in Beacon Roofing Supply by 2.4% during the fourth quarter. Eagle Asset Management Inc. now owns 156,284 shares of the company’s stock valued at $13,600,000 after buying an additional 3,591 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of Beacon Roofing Supply by 40.0% in the 4th quarter. Rafferty Asset Management LLC now owns 17,877 shares of the company’s stock worth $1,556,000 after purchasing an additional 5,108 shares in the last quarter. Quantedge Capital Pte Ltd bought a new position in Beacon Roofing Supply in the 4th quarter worth $2,498,000. Vinva Investment Management Ltd purchased a new position in Beacon Roofing Supply during the fourth quarter valued at $242,000. Finally, Ratan Capital Management LP bought a new stake in Beacon Roofing Supply during the fourth quarter valued at about $957,000. Institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

BECN has been the topic of a number of analyst reports. Stephens lowered their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Robert W. Baird lowered their price target on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada reduced their price objective on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $111.30.

Beacon Roofing Supply Stock Performance

BECN opened at $87.72 on Monday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of -139.24 and a beta of 1.55. The company has a fifty day moving average of $87.97 and a 200 day moving average of $92.84. Beacon Roofing Supply, Inc. has a fifty-two week low of $68.50 and a fifty-two week high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.66 EPS. As a group, sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Prithvi Gandhi bought 5,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $82.29 per share, for a total transaction of $411,450.00. Following the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at $411,450. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the completion of the transaction, the executive vice president now owns 320 shares in the company, valued at $27,200. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Prithvi Gandhi acquired 5,000 shares of Beacon Roofing Supply stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $82.29 per share, for a total transaction of $411,450.00. Following the completion of the purchase, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $411,450. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

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.