Insider Selling: Beacon Roofing Supply, Inc. (NASDAQ:BECN) EVP Sells 2,955 Shares of Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) EVP Christopher Carl Nelson sold 2,955 shares of Beacon Roofing Supply stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $91.11, for a total value of $269,230.05. Following the completion of the sale, the executive vice president now owns 320 shares of the company’s stock, valued at $29,155.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Beacon Roofing Supply Stock Performance

Shares of BECN stock traded up $0.99 during trading hours on Tuesday, reaching $87.83. 520,093 shares of the company traded hands, compared to its average volume of 704,964. Beacon Roofing Supply, Inc. has a 12-month low of $68.50 and a 12-month high of $103.75. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.87 and a quick ratio of 1.02. The company has a market cap of $5.59 billion, a P/E ratio of -139.03 and a beta of 1.58. The firm has a 50-day moving average price of $95.81 and a 200 day moving average price of $91.32.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. As a group, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Beacon Roofing Supply during the 1st quarter valued at about $26,000. PNC Financial Services Group Inc. lifted its holdings in Beacon Roofing Supply by 145.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after purchasing an additional 203 shares in the last quarter. Quarry LP lifted its holdings in Beacon Roofing Supply by 127.1% in the 4th quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after purchasing an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Beacon Roofing Supply in the 4th quarter worth approximately $36,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Beacon Roofing Supply by 86.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 910 shares of the company’s stock worth $79,000 after purchasing an additional 423 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BECN shares. JPMorgan Chase & Co. lifted their price objective on Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Loop Capital lifted their price objective on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. BMO Capital Markets lifted their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Robert W. Baird lifted their price objective on Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Benchmark assumed coverage on Beacon Roofing Supply in a research note on Thursday, April 18th. They set a “buy” rating and a $135.00 price target for the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $109.45.

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.