Insider Selling: Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells 5,637 Shares of Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the sale, the insider now directly owns 69,514 shares in the company, valued at approximately $6,984,071.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Clement Munroe Best III also recently made the following trade(s):

• On Friday, November 8th, Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18.

Beacon Roofing Supply Stock Up 1.0 %

BECN traded up $1.04 during trading on Friday, hitting $103.25. 700,648 shares of the company’s stock were exchanged, compared to its average volume of 712,904. The stock has a market cap of $6.39 billion, a P/E ratio of 17.65 and a beta of 1.54. The business’s 50 day moving average is $89.63 and its two-hundred day moving average is $92.31. Beacon Roofing Supply, Inc. has a fifty-two week low of $72.56 and a fifty-two week high of $105.42. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Stephens cut their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Robert W. Baird lifted their price target 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. raised their price objective on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Royal Bank of Canada increased their price objective 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.22.

Institutional Trading of Beacon Roofing Supply

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Beacon Roofing Supply in the third quarter worth $4,331,000. Thrivent Financial for Lutherans boosted its position in Beacon Roofing Supply by 1.4% during the third quarter. Thrivent Financial for Lutherans now owns 162,694 shares of the company’s stock worth $14,061,000 after purchasing an additional 2,284 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Beacon Roofing Supply by 18.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock valued at $83,239,000 after purchasing an additional 152,030 shares during the period. Natixis Advisors LLC raised its holdings in shares of Beacon Roofing Supply by 21.1% in the 3rd quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock valued at $18,528,000 after acquiring an additional 37,347 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Beacon Roofing Supply by 14.1% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after buying an additional 206 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

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.