First Trust Advisors LP lessened its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 40.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,137 shares of the company’s stock after selling 24,303 shares during the period. First Trust Advisors LP owned approximately 0.06% of Beacon Roofing Supply worth $1,771,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BECN. Huntington National Bank grew its position in Beacon Roofing Supply by 3.8% in the 2nd quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after purchasing an additional 116 shares during the period. Fifth Third Bancorp grew its position in Beacon Roofing Supply by 20.2% in the 1st quarter. Fifth Third Bancorp now owns 3,934 shares of the company’s stock worth $193,000 after purchasing an additional 661 shares during the period. Greenwood Capital Associates LLC grew its position in Beacon Roofing Supply by 5.3% in the 1st quarter. Greenwood Capital Associates LLC now owns 4,899 shares of the company’s stock worth $241,000 after purchasing an additional 247 shares during the period. Paloma Partners Management Co bought a new stake in Beacon Roofing Supply in the 1st quarter worth approximately $250,000. Finally, Virginia Retirement Systems ET AL grew its position in Beacon Roofing Supply by 5.4% in the 1st quarter. Virginia Retirement Systems ET AL now owns 5,900 shares of the company’s stock worth $290,000 after purchasing an additional 300 shares during the period.

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A number of equities research analysts have commented on BECN shares. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, July 5th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Beacon Roofing Supply in a research report on Tuesday. Northcoast Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Friday, August 25th. BidaskClub cut shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada dropped their price target on shares of Beacon Roofing Supply from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Beacon Roofing Supply presently has a consensus rating of “Buy” and an average target price of $52.00.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) opened at 49.01 on Thursday. The stock’s 50 day moving average is $44.74 and its 200 day moving average is $47.68. The stock has a market cap of $2.96 billion, a PE ratio of 29.10 and a beta of 1.30. Beacon Roofing Supply, Inc. has a 52 week low of $39.50 and a 52 week high of $52.12.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.06). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.27 billion. Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. Analysts predict that Beacon Roofing Supply, Inc. will post $2.20 EPS for the current year.

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.

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

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