Chicago Partners Investment Group LLC Invests $218,000 in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Chicago Partners Investment Group LLC acquired a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,648 shares of the company’s stock, valued at approximately $218,000.

A number of other hedge funds have also modified their holdings of the business. Quarry LP lifted its stake in shares of Beacon Roofing Supply by 127.1% during the 4th quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after purchasing an additional 225 shares during the period. Goodnow Investment Group LLC acquired a new stake in Beacon Roofing Supply in the 4th quarter worth about $1,700,000. Brightline Capital Management LLC purchased a new stake in Beacon Roofing Supply in the 4th quarter valued at about $8,354,000. Frontier Capital Management Co. LLC increased its stake in shares of Beacon Roofing Supply by 17.3% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,126,533 shares of the company’s stock valued at $185,051,000 after acquiring an additional 314,102 shares during the last quarter. Finally, Fiduciary Management Inc. WI lifted its holdings in shares of Beacon Roofing Supply by 4.0% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,888,614 shares of the company’s stock worth $164,347,000 after acquiring an additional 72,472 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Beacon Roofing Supply Stock Down 0.9 %

BECN stock opened at $96.80 on Wednesday. Beacon Roofing Supply, Inc. has a twelve month low of $68.50 and a twelve month high of $103.75. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $6.16 billion, a P/E ratio of -153.65 and a beta of 1.58. The firm has a 50 day simple moving average of $96.52 and a 200-day simple moving average of $90.70.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. On average, equities research analysts predict that Beacon Roofing Supply, Inc. will post 7.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BECN has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. BMO Capital Markets raised their price target on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. StockNews.com lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Benchmark assumed coverage on shares of Beacon Roofing Supply in a report on Thursday, April 18th. They issued a “buy” rating and a $135.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.45.

Insider Transactions at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were 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 of the company’s stock, valued at $1,000,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Beacon Roofing Supply 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 value of $306,767.16. Following the completion of the transaction, the executive vice president now owns 176 shares of the company’s stock, valued at $16,521.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply 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 transaction, the insider now directly owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The disclosure for this sale can be found here. Corporate 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.