Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells $725,796.18 in Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Clement Munroe Best III sold 7,037 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the transaction, the insider now directly owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, November 6th, Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock. The stock was sold at an average price of $100.47, for a total value of $566,349.39.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ BECN opened at $103.25 on Friday. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 17.65 and a beta of 1.54. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply, Inc. has a 1-year low of $72.56 and a 1-year high of $105.42. The stock’s 50-day moving average is $89.89 and its 200 day moving average is $92.32.

Wall Street Analysts Forecast Growth

BECN has been the topic of several research reports. Stephens reduced their price target 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. Royal Bank of Canada upped their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.22.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of large investors have recently modified their holdings of BECN. Allspring Global Investments Holdings LLC purchased a new position in shares of Beacon Roofing Supply during the 1st quarter valued at about $26,000. Daiwa Securities Group Inc. purchased a new position in Beacon Roofing Supply in the 1st quarter worth approximately $118,000. SG Americas Securities LLC increased its stake in Beacon Roofing Supply by 128.3% in the 1st quarter. SG Americas Securities LLC now owns 13,155 shares of the company’s stock worth $1,289,000 after purchasing an additional 7,394 shares during the period. Swiss National Bank increased its stake in Beacon Roofing Supply by 12.4% in the 1st quarter. Swiss National Bank now owns 118,800 shares of the company’s stock worth $11,645,000 after purchasing an additional 13,100 shares during the period. Finally, Sei Investments Co. increased its stake in Beacon Roofing Supply by 3.1% in the 1st quarter. Sei Investments Co. now owns 296,700 shares of the company’s stock worth $29,082,000 after purchasing an additional 8,878 shares during the period. 98.45% of the stock is owned by hedge funds and other 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.