Equitable Trust Co. Acquires 122 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Equitable Trust Co. raised its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,228 shares of the company’s stock after acquiring an additional 122 shares during the period. Equitable Trust Co.’s holdings in Beacon Roofing Supply were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BECN. Truist Financial Corp bought a new position in Beacon Roofing Supply in the second quarter valued at about $230,000. Sanctuary Advisors LLC bought a new stake in shares of Beacon Roofing Supply during the second quarter worth about $276,000. SG Americas Securities LLC grew its holdings in shares of Beacon Roofing Supply by 167.9% during the third quarter. SG Americas Securities LLC now owns 4,228 shares of the company’s stock worth $365,000 after purchasing an additional 2,650 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Beacon Roofing Supply by 154.0% during the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after purchasing an additional 445 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in shares of Beacon Roofing Supply during the third quarter worth about $897,000. Institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the business’s 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 transaction, the insider now directly owns 6,531 shares of the company’s stock, valued at approximately $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of BECN opened at $118.57 on Tuesday. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $121.42. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The business’s 50 day moving average price is $109.76 and its two-hundred day moving average price is $98.83. The firm has a market cap of $7.34 billion, a PE ratio of 20.27 and a beta of 1.62.

Analyst Ratings Changes

Several research firms have recently weighed in on BECN. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price target for the stock from $131.00 to $122.55 in a report on Friday. Royal Bank of Canada boosted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com assumed coverage on Beacon Roofing Supply in a report on Wednesday, February 5th. They set a “sell” rating on the stock. Finally, BMO Capital Markets lifted their price objective on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Hold” and an average price target of $120.17.

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.