Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells $286,000.00 in Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the sale, the insider now directly owns 6,531 shares of the company’s stock, valued at approximately $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Beacon Roofing Supply Stock Up 3.3 %

Shares of BECN opened at $112.18 on Friday. The company has a market capitalization of $6.94 billion, a PE ratio of 19.19 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 12 month low of $77.54 and a 12 month high of $116.30. The stock’s 50-day moving average price is $93.87 and its two-hundred day moving average price is $92.83. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BECN shares. Stephens reiterated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday. 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. 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. JPMorgan Chase & Co. boosted their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Royal Bank of Canada boosted their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Beacon Roofing Supply by 14.1% during the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after buying an additional 872,216 shares during the period. FMR LLC lifted its holdings in Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after buying an additional 963,633 shares during the period. State Street Corp lifted its holdings in Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after buying an additional 15,505 shares during the period. Boston Partners lifted its holdings in Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after buying an additional 569,627 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Beacon Roofing Supply by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock worth $85,887,000 after buying an additional 2,607 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

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.