6,929 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,929 shares of the company's stock, valued at approximately $599,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BECN. US Bancorp DE boosted its position in shares of Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company's stock worth $454,000 after acquiring an additional 116 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Beacon Roofing Supply by 2.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company's stock worth $501,000 after buying an additional 147 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Beacon Roofing Supply by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company's stock valued at $803,000 after buying an additional 156 shares in the last quarter. Equitable Trust Co. grew its position in Beacon Roofing Supply by 2.2% in the third quarter. Equitable Trust Co. now owns 7,106 shares of the company's stock valued at $614,000 after acquiring an additional 156 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Beacon Roofing Supply by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock worth $234,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Analysts Set New Price Targets

BECN has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Royal Bank of Canada lifted their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Stephens reaffirmed an "equal weight" rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Finally, Benchmark restated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of "Moderate Buy" and an average target price of $118.00.

Beacon Roofing Supply Stock Down 1.5 %

Shares of BECN traded down $1.60 during mid-day trading on Friday, hitting $106.35. 394,031 shares of the company traded hands, compared to its average volume of 716,486. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $116.30. The company has a market capitalization of $6.58 billion, a PE ratio of 18.18 and a beta of 1.59. 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 business has a 50 day moving average of $102.03 and a 200 day moving average of $94.57.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 5,637 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now owns 69,514 shares of the company's stock, valued at approximately $6,984,071.58. The trade was a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason L. Taylor sold 2,600 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the sale, the insider now owns 9,131 shares of the company's stock, valued at approximately $821,790. The trade was a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,874 shares of company stock valued at $1,812,146. 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.