Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells $171,475.00 in Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the transaction, the insider now directly owns 10,531 shares of the company’s stock, valued at $1,000,445. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Beacon Roofing Supply Stock Up 0.2 %

Shares of BECN stock opened at $95.05 on Thursday. The stock’s 50-day simple moving average is $86.86 and its 200-day simple moving average is $81.96. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. The firm has a market capitalization of $6.03 billion, a PE ratio of -202.23, a P/E/G ratio of 1.67 and a beta of 1.62. Beacon Roofing Supply, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $96.86.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the company earned $1.18 EPS. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Equities analysts expect that Beacon Roofing Supply, Inc. will post 7.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

BECN has been the topic of several recent analyst reports. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. reduced their target price on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and upped their target price for the company from $99.00 to $115.00 in a research report on Thursday, February 29th. Finally, StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.45.

Institutional Trading of Beacon Roofing Supply

Hedge funds have recently modified their holdings of the stock. Deutsche Bank AG boosted its stake in shares of Beacon Roofing Supply by 25.2% in the third quarter. Deutsche Bank AG now owns 30,866 shares of the company’s stock worth $2,382,000 after buying an additional 6,210 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Beacon Roofing Supply by 80.2% in the third quarter. Teacher Retirement System of Texas now owns 26,584 shares of the company’s stock worth $2,051,000 after buying an additional 11,828 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Beacon Roofing Supply in the third quarter worth about $6,442,000. Hsbc Holdings PLC boosted its stake in shares of Beacon Roofing Supply by 145.5% in the third quarter. Hsbc Holdings PLC now owns 75,186 shares of the company’s stock worth $5,834,000 after buying an additional 44,564 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Beacon Roofing Supply by 19.3% in the third quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock worth $434,118,000 after buying an additional 909,819 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.