Royal Bank of Canada Buys 42,127 Shares of Beacon Roofing Supply, Inc. (BECN)

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Royal Bank of Canada grew its stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 954,982 shares of the company’s stock after purchasing an additional 42,127 shares during the quarter. Royal Bank of Canada owned approximately 1.40% of Beacon Roofing Supply worth $50,681,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. We Are One Seven LLC grew its holdings in shares of Beacon Roofing Supply by 194.6% during the first quarter. We Are One Seven LLC now owns 1,918 shares of the company’s stock valued at $102,000 after purchasing an additional 1,267 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $147,000. SG Americas Securities LLC bought a new position in shares of Beacon Roofing Supply during the first quarter valued at approximately $244,000. Zeke Capital Advisors LLC bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $247,000. Finally, Prime Capital Investment Advisors LLC bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $257,000. 96.76% of the stock is owned by institutional investors.

Shares of Beacon Roofing Supply opened at $44.97 on Friday, MarketBeat.com reports. Beacon Roofing Supply, Inc. has a 12-month low of $38.71 and a 12-month high of $66.47. The company has a market capitalization of $3.11 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 0.44 and a beta of 1.34. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.18 and a quick ratio of 1.13.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Tuesday, May 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.26). The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Beacon Roofing Supply had a return on equity of 8.11% and a net margin of 1.80%. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. equities research analysts forecast that Beacon Roofing Supply, Inc. will post 3.44 EPS for the current fiscal year.

Several research firms have recently commented on BECN. BidaskClub raised Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 12th. ValuEngine raised Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a report on Thursday. TheStreet lowered Beacon Roofing Supply from a “b-” rating to a “c+” rating in a report on Friday, June 1st. Northcoast Research lowered Beacon Roofing Supply from a “buy” rating to a “neutral” rating in a report on Monday, May 14th. Finally, JPMorgan Chase & Co. lowered Beacon Roofing Supply from an “overweight” rating to a “neutral” rating in a report on Thursday, May 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Hold” and a consensus target price of $63.30.

In other news, Director Richard W. Frost purchased 11,820 shares of the firm’s stock in a transaction on Tuesday, June 5th. The stock was purchased at an average cost of $42.46 per share, with a total value of $501,877.20. Following the purchase, the director now owns 9,207 shares in the company, valued at approximately $390,929.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph M. Nowicki purchased 2,470 shares of the firm’s stock in a transaction on Friday, May 18th. The shares were purchased at an average cost of $40.45 per share, with a total value of $99,911.50. Following the completion of the purchase, the chief financial officer now owns 13,113 shares in the company, valued at approximately $530,420.85. The disclosure for this purchase can be found here. Company insiders own 0.77% of the company’s stock.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.

Institutional Ownership by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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