Atika Capital Management LLC Sells 3,600 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Atika Capital Management LLC lowered its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,400 shares of the company's stock after selling 3,600 shares during the period. Atika Capital Management LLC owned 0.10% of Beacon Roofing Supply worth $6,339,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Beacon Roofing Supply during the 4th quarter worth $31,000. Quarry LP raised its stake in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after buying an additional 197 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after buying an additional 163 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after acquiring an additional 150 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of Beacon Roofing Supply by 16.5% in the 4th quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after acquiring an additional 196 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of brokerages have weighed in on BECN. BMO Capital Markets dropped their target price on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Raymond James lowered shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. Zelman & Associates lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. StockNews.com started coverage on Beacon Roofing Supply in a research note on Thursday. They issued a "sell" rating on the stock. Finally, Loop Capital restated a "hold" rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Beacon Roofing Supply has an average rating of "Hold" and an average price target of $122.10.

Beacon Roofing Supply Stock Down 0.0 %

Beacon Roofing Supply stock traded down $0.02 during mid-day trading on Friday, hitting $122.88. The company's stock had a trading volume of 1,220,745 shares, compared to its average volume of 1,100,462. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $123.90. The firm's 50 day moving average is $119.61 and its 200 day moving average is $108.84. The company has a market cap of $7.59 billion, a PE ratio of 21.00 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 29,724 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now directly owns 87,943 shares in the company, valued at $10,821,386.15. This trade represents a 25.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the completion of the transaction, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. The trade was a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,806 shares of company stock worth $6,745,448 over the last ninety days. Company insiders own 1.30% of the company's stock.

Beacon Roofing Supply 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.