Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells $168,264.88 in Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 2,152 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $78.19, for a total value of $168,264.88. Following the sale, the insider now directly owns 8,689 shares of the company’s stock, valued at $679,392.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Beacon Roofing Supply Stock Performance

BECN opened at $76.97 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.69 and a debt-to-equity ratio of 0.86. Beacon Roofing Supply, Inc. has a 12-month low of $50.42 and a 12-month high of $87.46. The business has a 50 day moving average of $81.46 and a 200-day moving average of $71.17. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.70 and a beta of 1.68.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, August 3rd. The company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.39. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.50 billion. Beacon Roofing Supply had a net margin of 4.69% and a return on equity of 25.15%. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post 6.91 earnings per share for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

Large investors have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors Inc. lifted its position in Beacon Roofing Supply by 2.9% during the fourth quarter. Laurel Wealth Advisors Inc. now owns 5,940 shares of the company’s stock worth $314,000 after purchasing an additional 166 shares during the period. Amalgamated Bank lifted its stake in Beacon Roofing Supply by 2.4% during the fourth quarter. Amalgamated Bank now owns 8,182 shares of the company’s stock worth $432,000 after purchasing an additional 191 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of Beacon Roofing Supply by 34.4% in the 1st quarter. Ronald Blue Trust Inc. now owns 817 shares of the company’s stock valued at $43,000 after purchasing an additional 209 shares in the last quarter. First Manhattan Co. increased its stake in shares of Beacon Roofing Supply by 4.3% in the 1st quarter. First Manhattan Co. now owns 5,633 shares of the company’s stock valued at $333,000 after purchasing an additional 233 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Beacon Roofing Supply by 5.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,441 shares of the company’s stock worth $369,000 after buying an additional 239 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BECN shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Beacon Roofing Supply from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Truist Financial boosted their target price on Beacon Roofing Supply from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, August 4th. Robert W. Baird lifted their price objective on shares of Beacon Roofing Supply from $76.00 to $95.00 in a research note on Monday, July 10th. Jefferies Financial Group upped their target price on shares of Beacon Roofing Supply from $75.00 to $88.00 and gave the company a “hold” rating in a research note on Thursday, July 13th. Finally, BMO Capital Markets boosted their price target on shares of Beacon Roofing Supply from $75.00 to $90.00 in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.80.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in 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. It 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.