Gamco Investors INC. ET AL Has $868,000 Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Gamco Investors INC. ET AL reduced its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,860 shares of the company’s stock after selling 178 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Beacon Roofing Supply were worth $868,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Caprock Group LLC increased its stake in shares of Beacon Roofing Supply by 1.3% in the first quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock valued at $860,000 after buying an additional 111 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Beacon Roofing Supply by 28.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after acquiring an additional 116 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in Beacon Roofing Supply by 1.9% in the fourth quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock valued at $570,000 after acquiring an additional 121 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Beacon Roofing Supply by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock valued at $749,000 after acquiring an additional 129 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Beacon Roofing Supply by 1.5% in the first quarter. QRG Capital Management Inc. now owns 10,475 shares of the company’s stock valued at $1,027,000 after acquiring an additional 157 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Christopher Carl Nelson sold 2,955 shares of Beacon Roofing Supply stock in a transaction that occurred on 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 directly owns 320 shares in the company, valued at $29,155.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

BECN has been the topic of several recent research reports. Loop Capital raised their price target on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, April 1st. Robert W. Baird raised their target price on Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Truist Financial raised their target price on Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, Benchmark assumed coverage on Beacon Roofing Supply in a research report on Thursday, April 18th. They set a “buy” rating and a $135.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.45.

Beacon Roofing Supply Stock Performance

BECN stock traded up $2.81 during mid-day trading on Friday, hitting $101.16. 547,739 shares of the company were exchanged, compared to its average volume of 690,579. The business has a 50 day simple moving average of $95.26 and a 200-day simple moving average of $92.29. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 1.47. Beacon Roofing Supply, Inc. has a 1-year low of $68.50 and a 1-year high of $103.75.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. Equities analysts expect that Beacon Roofing Supply, Inc. will post 7.79 earnings per share for the current fiscal year.

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.