Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Jason L. Taylor Sells 2,600 Shares

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now directly owns 9,131 shares of the company’s stock, valued at $821,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Beacon Roofing Supply Trading Down 0.7 %

Beacon Roofing Supply stock traded down $0.67 during trading on Wednesday, hitting $94.49. The company’s stock had a trading volume of 622,329 shares, compared to its average volume of 717,640. The stock’s fifty day moving average is $86.53 and its 200 day moving average is $92.72. Beacon Roofing Supply, Inc. has a 1-year low of $68.50 and a 1-year high of $105.42. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of -149.75 and a beta of 1.55. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the company earned $2.66 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts predict that Beacon Roofing Supply, Inc. will post 7.39 EPS for the current year.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Beacon Roofing Supply during the 1st quarter worth $26,000. PNC Financial Services Group Inc. raised its holdings in shares of 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 during the period. Quarry LP raised its holdings in shares of 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 during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Beacon Roofing Supply by 28.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after purchasing an additional 116 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after purchasing an additional 445 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

BECN has been the subject of a number of research reports. Royal Bank of Canada cut their target price on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stephens dropped their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Finally, Robert W. Baird reduced their price objective on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $111.30.

About Beacon Roofing Supply

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.