Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Purchased by PEAK6 Investments LLC

PEAK6 Investments LLC boosted its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 88.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,655 shares of the company’s stock after purchasing an additional 3,127 shares during the period. PEAK6 Investments LLC’s holdings in Beacon Roofing Supply were worth $575,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its position in shares of Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after buying an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Beacon Roofing Supply by 2.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock worth $501,000 after purchasing an additional 147 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of Beacon Roofing Supply by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock valued at $803,000 after purchasing an additional 156 shares in the last quarter. Equitable Trust Co. grew its holdings in shares of Beacon Roofing Supply by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock worth $614,000 after purchasing an additional 156 shares during the period. Finally, Huntington National Bank increased its position in Beacon Roofing Supply by 14.1% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock worth $144,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $113.41 on Wednesday. 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 moving average of $98.27 and a 200-day moving average of $93.81. The stock has a market cap of $7.02 billion, a P/E ratio of 19.39 and a beta of 1.59. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $116.30.

Insider Buying and Selling 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 that occurred on Wednesday, November 6th. The stock was 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 in the company, valued at $6,984,071.58. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the transaction, the insider now owns 6,531 shares of the company’s stock, valued at approximately $718,410. The trade was a 28.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,874 shares of company stock worth $1,812,146 in the last ninety days. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BECN shares. Royal Bank of Canada boosted their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. 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. Robert W. Baird upped their target price 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. Finally, Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.