Clement Munroe Best III Sells 7,037 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction that occurred on 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 owns 69,449 shares in the company, valued at $7,162,969.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 Price Performance

BECN stock traded up $1.04 during trading on Friday, reaching $103.25. The company’s stock had a trading volume of 700,681 shares, compared to its average volume of 712,904. Beacon Roofing Supply, Inc. has a 1 year low of $72.56 and a 1 year high of $105.42. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $6.39 billion, a P/E ratio of 17.58 and a beta of 1.54. The company’s fifty day moving average is $89.63 and its 200-day moving average is $92.31.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BECN. Benchmark restated 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. upped their price target on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday. Stephens lowered their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada upped their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird increased their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $115.22.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of institutional investors have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Beacon Roofing Supply during the third quarter valued at about $4,331,000. Thrivent Financial for Lutherans grew its position in shares of Beacon Roofing Supply by 1.4% during the third quarter. Thrivent Financial for Lutherans now owns 162,694 shares of the company’s stock valued at $14,061,000 after purchasing an additional 2,284 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Beacon Roofing Supply by 18.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock valued at $83,239,000 after purchasing an additional 152,030 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Beacon Roofing Supply by 21.1% during the third quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock valued at $18,528,000 after purchasing an additional 37,347 shares in the last quarter. Finally, Huntington National Bank grew its position in shares of Beacon Roofing Supply by 14.1% during the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.