Zurcher Kantonalbank Zurich Cantonalbank Has $874,000 Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 28.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,044 shares of the company’s stock after purchasing an additional 2,248 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Beacon Roofing Supply were worth $874,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its holdings in shares of Beacon Roofing Supply by 63.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock worth $65,000 after acquiring an additional 325 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Beacon Roofing Supply by 5.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,209 shares of the company’s stock valued at $325,000 after purchasing an additional 200 shares during the period. Xponance Inc. lifted its stake in shares of Beacon Roofing Supply by 10.5% during the 3rd quarter. Xponance Inc. now owns 3,315 shares of the company’s stock worth $256,000 after buying an additional 314 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Beacon Roofing Supply by 76.2% during the 3rd quarter. Raymond James & Associates now owns 38,263 shares of the company’s stock worth $2,953,000 after buying an additional 16,552 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Beacon Roofing Supply by 5.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 253,366 shares of the company’s stock valued at $19,552,000 after buying an additional 13,678 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $99.00 to $115.00 in a research note on Thursday, February 29th. Finally, StockNews.com upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN opened at $99.00 on Monday. The stock’s 50 day moving average is $92.59 and its 200-day moving average is $85.25. Beacon Roofing Supply, Inc. has a twelve month low of $57.01 and a twelve month high of $102.83. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of -210.64 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. Sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 7.8 EPS for the current fiscal year.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares in the company, valued at approximately $16,521.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at $16,521.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction dated 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 approximately $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.