Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells $168,264.88 in Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 2,152 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $78.19, for a total transaction of $168,264.88. Following the completion of the transaction, the insider now owns 8,689 shares of the company’s stock, valued at $679,392.91. The sale was disclosed in a document filed with the SEC, which is available through this link.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $76.97 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.69 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average price of $81.46 and a 200-day moving average price of $71.08. Beacon Roofing Supply, Inc. has a 52 week low of $50.42 and a 52 week high of $87.46. The firm has a market capitalization of $4.86 billion, a PE ratio of 15.24, a P/E/G ratio of 1.70 and a beta of 1.68.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.39. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Beacon Roofing Supply had a return on equity of 25.15% and a net margin of 4.69%. As a group, equities research analysts expect that Beacon Roofing Supply, Inc. will post 6.91 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on BECN. StockNews.com lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Beacon Roofing Supply from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Robert W. Baird raised their price target on Beacon Roofing Supply from $76.00 to $95.00 in a report on Monday, July 10th. Truist Financial lifted their price target on Beacon Roofing Supply from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, August 4th. Finally, Raymond James raised their price objective on shares of Beacon Roofing Supply from $75.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $86.80.

Institutional Trading of Beacon Roofing Supply

Several hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. lifted its position in shares of Beacon Roofing Supply by 37.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after buying an additional 300 shares in the last quarter. Raymond James & Associates raised its stake in Beacon Roofing Supply by 11.6% during the 1st quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock worth $797,000 after acquiring an additional 1,397 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Beacon Roofing Supply during the first quarter valued at approximately $317,000. AlphaCrest Capital Management LLC boosted its position in shares of Beacon Roofing Supply by 4.0% in the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock worth $419,000 after purchasing an additional 273 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Beacon Roofing Supply by 27.0% in the first quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock worth $665,000 after purchasing an additional 2,267 shares in the last quarter.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in 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. It 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.