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

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) insider Clement Munroe Best III sold 7,037 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the transaction, the insider now directly owns 69,449 shares in the company, valued at $7,162,969.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 shares were sold at an average price of $100.47, for a total transaction of $566,349.39.

Beacon Roofing Supply Stock Up 1.0 %

Shares of NASDAQ:BECN traded up $1.04 during trading on Friday, reaching $103.25. The stock had a trading volume of 716,707 shares, compared to its average volume of 665,184. The firm's 50-day simple moving average is $89.89 and its 200 day simple moving average is $92.32. 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, Inc. has a one year low of $72.56 and a one year high of $105.42. The company has a market capitalization of $6.39 billion, a P/E ratio of 17.65 and a beta of 1.54.

Institutional Investors Weigh In On Beacon Roofing Supply

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Beacon Roofing Supply during the first quarter worth $26,000. Blue Trust Inc. increased its position in Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company's stock valued at $28,000 after buying an additional 211 shares in the last quarter. GAMMA Investing LLC raised its stake in Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company's stock valued at $63,000 after buying an additional 445 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in Beacon Roofing Supply by 140.3% in the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company's stock worth $109,000 after acquiring an additional 648 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Beacon Roofing Supply during the first quarter worth about $118,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BECN shares. Stephens decreased their target price 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. Benchmark restated a "buy" rating and set 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 objective on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an "overweight" rating in a research note on Thursday. Royal Bank of Canada increased their target price on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.22.

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.