Equitable Trust Co. Has $734,000 Stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

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

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in shares of Beacon Roofing Supply during the third quarter worth approximately $1,441,000. Barclays PLC raised its position in shares of Beacon Roofing Supply by 272.0% during the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after purchasing an additional 89,222 shares during the period. JPMorgan Chase & Co. raised its position in shares of Beacon Roofing Supply by 16.3% during the third quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company’s stock worth $30,849,000 after purchasing an additional 49,902 shares during the period. BNP Paribas Financial Markets raised its position in shares of Beacon Roofing Supply by 23.0% during the third quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company’s stock worth $3,668,000 after purchasing an additional 7,924 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Beacon Roofing Supply during the third quarter worth approximately $4,331,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BECN has been the subject of several recent research reports. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. BMO Capital Markets upped their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price target for the stock from $131.00 to $122.55 in a report on Friday. Royal Bank of Canada upped 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. Finally, JPMorgan Chase & Co. upped their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $120.17.

Beacon Roofing Supply Stock Down 0.9 %

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

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the sale, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. This represents a 28.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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.