Zions Bancorporation acquired a new stake in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,428 shares of the company’s stock, valued at approximately $124,000.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Beacon Roofing Supply by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,061,255 shares of the company’s stock valued at $51,999,000 after purchasing an additional 22,749 shares during the last quarter. BlackRock Inc. grew its position in Beacon Roofing Supply by 1.2% during the 2nd quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock valued at $199,416,000 after purchasing an additional 47,779 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Beacon Roofing Supply by 10.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after acquiring an additional 176,659 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Beacon Roofing Supply by 19.8% during the 2nd quarter. Swiss National Bank now owns 100,000 shares of the company’s stock valued at $4,900,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Beacon Roofing Supply during the 2nd quarter valued at about $312,000.

Shares of Beacon Roofing Supply, Inc. (NASDAQ BECN) opened at $60.10 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06. The stock has a market cap of $4,122.32, a PE ratio of 28.05, a PEG ratio of 0.79 and a beta of 1.49. Beacon Roofing Supply, Inc. has a 1-year low of $39.57 and a 1-year high of $64.88.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Beacon Roofing Supply had a return on equity of 9.09% and a net margin of 2.30%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 EPS. sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 3.08 earnings per share for the current year.

A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up previously from $62.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. KeyCorp reaffirmed a “buy” rating and set a $56.00 price target on shares of Beacon Roofing Supply in a report on Sunday, October 15th. Robert W. Baird reaffirmed an “outperform” rating and set a $70.00 price target (up previously from $55.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. Finally, Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $68.00 price target on the stock in a report on Thursday, November 23rd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.91.

In related news, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $60.57, for a total value of $2,422,800.00. Following the transaction, the chief executive officer now owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total transaction of $119,500.00. Following the completion of the transaction, the executive vice president now directly owns 7,056 shares in the company, valued at approximately $421,596. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

WARNING: “Zions Bancorporation Invests $124,000 in Beacon Roofing Supply, Inc. (BECN) Stock” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/zions-bancorporation-invests-124000-in-beacon-roofing-supply-inc-becn-stock/1764864.html.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with Analyst Ratings Network's FREE daily email newsletter.