Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells $3,657,538.20 in Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Clement Munroe Best III sold 29,724 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the sale, the insider now directly owns 87,943 shares in the company, valued at approximately $10,821,386.15. The trade was a 25.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $123.00 on Thursday. The firm has a market capitalization of $7.60 billion, a P/E ratio of 21.03 and a beta of 1.31. Beacon Roofing Supply, Inc. has a one year low of $77.54 and a one year high of $123.90. The company’s fifty day moving average is $119.51 and its two-hundred day moving average is $108.57. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Beacon Roofing Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock worth $661,235,000 after buying an additional 24,027 shares in the last quarter. Boston Partners grew its position in shares of Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock valued at $462,417,000 after purchasing an additional 59,630 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Beacon Roofing Supply by 16.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company’s stock worth $242,247,000 after purchasing an additional 329,047 shares during the last quarter. State Street Corp grew its holdings in Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock valued at $127,182,000 after buying an additional 15,505 shares during the last quarter. Finally, Invesco Ltd. increased its position in Beacon Roofing Supply by 7.4% during the fourth quarter. Invesco Ltd. now owns 1,248,349 shares of the company’s stock worth $126,807,000 after buying an additional 86,209 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

BECN has been the subject of a number of recent research reports. Royal Bank of Canada cut shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $124.00 to $124.35 in a research report on Wednesday, April 2nd. Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. StockNews.com assumed coverage on Beacon Roofing Supply in a research report on Thursday. They set a “sell” rating for the company. Baird R W lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, Benchmark restated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $122.10.

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.