Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells $286,000.00 in Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the sale, the insider now directly owns 6,531 shares in the company, valued at $718,410. This trade represents a 28.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Beacon Roofing Supply Stock Down 0.3 %

Shares of Beacon Roofing Supply stock traded down $0.29 on Wednesday, hitting $108.95. The company had a trading volume of 420,994 shares, compared to its average volume of 728,784. The firm has a market capitalization of $6.74 billion, a P/E ratio of 18.67 and a beta of 1.54. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock has a 50-day moving average of $92.73 and a 200-day moving average of $92.60. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $116.30.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BECN. Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday. Stephens restated an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Finally, Royal Bank of Canada increased their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.00.

Institutional Investors Weigh In On Beacon Roofing Supply

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

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.