Beacon Roofing Supply, Inc. (NASDAQ:BECN) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,826 shares of the company's stock after selling 3,232 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Beacon Roofing Supply worth $3,131,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in shares of Beacon Roofing Supply by 23.0% in the third quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company's stock worth $3,668,000 after acquiring an additional 7,924 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Beacon Roofing Supply by 14.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,605 shares of the company's stock valued at $1,262,000 after purchasing an additional 1,828 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Beacon Roofing Supply by 0.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,473 shares of the company's stock worth $11,709,000 after purchasing an additional 647 shares in the last quarter. PEAK6 Investments LLC grew its stake in Beacon Roofing Supply by 88.6% during the 3rd quarter. PEAK6 Investments LLC now owns 6,655 shares of the company's stock worth $575,000 after purchasing an additional 3,127 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Beacon Roofing Supply by 9.2% during the 3rd quarter. Captrust Financial Advisors now owns 22,878 shares of the company's stock worth $1,977,000 after purchasing an additional 1,937 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

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Analysts Set New Price Targets

BECN has been the subject of a number of analyst reports. Raymond James downgraded Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada cut shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and boosted their price target for the stock from $124.00 to $124.35 in a report on Wednesday. William Blair reissued a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Baird R W cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Finally, Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $122.10.

Beacon Roofing Supply Stock Performance

NASDAQ BECN traded down $1.21 during trading hours on Friday, hitting $122.43. The company had a trading volume of 7,914,184 shares, compared to its average volume of 1,051,952. The business has a 50 day moving average of $119.17 and a 200-day moving average of $107.31. The company has a market cap of $7.56 billion, a PE ratio of 20.93 and a beta of 1.31. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $123.90. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its earnings results 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 during 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%. As a group, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

About Beacon Roofing Supply

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.