Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Clement Munroe Best III Sells 29,724 Shares

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) insider Clement Munroe Best III sold 29,724 shares of Beacon Roofing Supply stock in a transaction on Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the transaction, the insider now owns 87,943 shares in the company, valued at $10,821,386.15. This represents a 25.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Beacon Roofing Supply Trading Up 0.2 %

Shares of BECN stock traded up $0.25 on Friday, reaching $123.15. 1,996,066 shares of the company's stock were exchanged, compared to its average volume of 1,105,841. The company's fifty day simple moving average is $119.71 and its 200 day simple moving average is $109.10. The stock has a market capitalization of $7.61 billion, a PE 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, Inc. has a 52 week low of $77.54 and a 52 week high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (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 analysts' expectations of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Institutional Trading of Beacon Roofing Supply

Several hedge funds and other institutional investors have recently bought and sold shares of BECN. Equitable Trust Co. lifted its stake in shares of Beacon Roofing Supply by 1.7% during the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company's stock worth $734,000 after purchasing an additional 122 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after acquiring an additional 150 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after acquiring an additional 163 shares during the last quarter. Cornerstone Investment Partners LLC grew its stake in Beacon Roofing Supply by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company's stock worth $480,000 after buying an additional 166 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock worth $234,000 after acquiring an additional 181 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BECN shares. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Baird R W cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Loop Capital reiterated a "hold" rating and issued a $124.00 price target on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Benchmark reissued a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Finally, Zelman & Associates cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.