Quantbot Technologies LP Increases Stock Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Quantbot Technologies LP grew its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 169.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,529 shares of the company’s stock after purchasing an additional 14,788 shares during the quarter. Quantbot Technologies LP’s holdings in Beacon Roofing Supply were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 211 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Beacon Roofing Supply in the 3rd quarter worth $28,000. GAMMA Investing LLC lifted its position in Beacon Roofing Supply by 154.0% during the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after purchasing an additional 445 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after purchasing an additional 500 shares during the period. Finally, Plato Investment Management Ltd increased its position in Beacon Roofing Supply by 140.3% in the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after buying an additional 648 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BECN. Benchmark reaffirmed a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Stephens reiterated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Royal Bank of Canada raised their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and a consensus price target of $118.00.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the sale, the insider now owns 9,131 shares of the company’s stock, valued at $821,790. This trade represents a 22.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the sale, the insider now owns 69,514 shares in the company, valued at approximately $6,984,071.58. The trade was a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,874 shares of company stock worth $1,812,146 over the last 90 days. 1.30% of the stock is owned by insiders.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $112.79 on Friday. The stock has a market capitalization of $6.98 billion, a PE ratio of 19.28 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $116.30. The business has a 50 day simple moving average of $96.10 and a two-hundred day simple moving average of $93.36. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

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.