Christopher Carl Nelson Sells 16,595 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) EVP Christopher Carl Nelson sold 16,595 shares of Beacon Roofing Supply stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the sale, the executive vice president now directly owns 463 shares in the company, valued at $57,231.43. The trade was a 97.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Beacon Roofing Supply Stock Performance

BECN traded up $0.25 during midday trading on Friday, reaching $123.15. The company's stock had a trading volume of 1,996,066 shares, compared to its average volume of 1,105,841. Beacon Roofing Supply, Inc. has a twelve month low of $77.54 and a twelve month high of $123.90. The company has a fifty day simple moving average of $119.71 and a 200 day simple moving average of $109.10. The stock has a market cap of $7.61 billion, a P/E ratio of 21.05 and a beta of 1.31. 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 (NASDAQ:BECN - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

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Hedge Funds Weigh In On Beacon Roofing Supply

A number of hedge funds have recently modified their holdings of BECN. Charles Schwab Investment Management Inc. raised its stake in shares of Beacon Roofing Supply by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company's stock valued at $62,489,000 after acquiring an additional 11,426 shares during the last quarter. Raymond James Financial Inc. bought a new position in Beacon Roofing Supply during the fourth quarter worth about $24,162,000. Barclays PLC increased its stake in Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company's stock valued at $10,547,000 after purchasing an additional 89,222 shares in the last quarter. Boston Partners boosted its position in shares of Beacon Roofing Supply by 1.3% during the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock worth $462,417,000 after purchasing an additional 59,630 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Beacon Roofing Supply by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company's stock valued at $103,011,000 after acquiring an additional 20,372 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on BECN. Zelman & Associates downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. BMO Capital Markets decreased their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. William Blair reissued a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Raymond James downgraded Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Baird R W downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $122.10.

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.