nVerses Capital LLC Makes New $281,000 Investment in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

nVerses Capital LLC bought a new stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 2nd quarter, HoldingsChannel reports. The fund bought 3,100 shares of the company’s stock, valued at approximately $281,000.

Other institutional investors have also recently made changes to their positions in the company. Quantedge Capital Pte Ltd purchased a new stake in Beacon Roofing Supply in the 4th quarter worth about $2,498,000. Teacher Retirement System of Texas lifted its stake in shares of Beacon Roofing Supply by 87.1% during the 4th quarter. Teacher Retirement System of Texas now owns 49,733 shares of the company’s stock worth $4,328,000 after acquiring an additional 23,149 shares during the last quarter. National Bank of Canada FI purchased a new position in Beacon Roofing Supply during the 4th quarter valued at $2,439,000. Capstone Investment Advisors LLC bought a new position in Beacon Roofing Supply in the 1st quarter valued at $1,664,000. Finally, Benson Investment Management Company Inc. purchased a new stake in Beacon Roofing Supply in the first quarter worth $3,807,000. Institutional investors own 98.45% of the company’s stock.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, CFO Prithvi Gandhi acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the acquisition, the chief financial officer now owns 5,000 shares in the company, valued at approximately $411,450. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Beacon Roofing Supply news, CFO Prithvi Gandhi acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the acquisition, the chief financial officer now owns 5,000 shares in the company, valued at approximately $411,450. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher Carl Nelson sold 2,955 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $91.11, for a total value of $269,230.05. Following the completion of the sale, the executive vice president now owns 320 shares of the company’s stock, valued at $29,155.20. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BECN shares. Robert W. Baird lowered their target price on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Royal Bank of Canada lowered their target price on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Stephens cut their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.30.

Beacon Roofing Supply Stock Up 1.6 %

Shares of NASDAQ BECN traded up $1.47 during mid-day trading on Friday, reaching $90.60. 689,468 shares of the company were exchanged, compared to its average volume of 907,700. The firm has a 50-day moving average of $91.11 and a 200 day moving average of $93.03. Beacon Roofing Supply, Inc. has a 1 year low of $68.50 and a 1 year high of $105.42. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the company posted $2.66 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts predict that Beacon Roofing Supply, Inc. will post 7.46 EPS for the current fiscal year.

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.