Insider Selling: Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells 5,637 Shares of Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) insider Clement Munroe Best III sold 5,637 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the transaction, the insider now owns 69,514 shares in the company, valued at approximately $6,984,071.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Clement Munroe Best III also recently made the following trade(s):

• On Friday, November 8th, Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock. The stock was sold at an average price of $103.14, for a total value of $725,796.18.

Beacon Roofing Supply Price Performance

Shares of BECN stock traded up $1.04 during trading on Friday, hitting $103.25. The company had a trading volume of 716,707 shares, compared to its average volume of 665,184. Beacon Roofing Supply, Inc. has a 52 week low of $72.56 and a 52 week high of $105.42. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 17.65 and a beta of 1.54. 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 stock's 50-day moving average is $89.89 and its two-hundred day moving average is $92.32.

Analysts Set New Price Targets

Several equities research analysts have commented on BECN shares. Royal Bank of Canada upped their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Stephens dropped their target price 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. Robert W. Baird raised their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Benchmark reissued a "buy" rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply presently has an average rating of "Moderate Buy" and an average price target of $115.22.

Hedge Funds Weigh In On Beacon Roofing Supply

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its position in Beacon Roofing Supply by 15.3% in the first quarter. Acadian Asset Management LLC now owns 374,276 shares of the company's stock worth $36,671,000 after acquiring an additional 49,634 shares in the last quarter. Boston Partners increased its position in shares of Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company's stock valued at $126,082,000 after purchasing an additional 569,627 shares during the last quarter. Blair William & Co. IL bought a new position in shares of Beacon Roofing Supply during the 1st quarter valued at about $644,000. Bayesian Capital Management LP purchased a new position in shares of Beacon Roofing Supply during the 1st quarter valued at about $572,000. Finally, Comerica Bank lifted its position in Beacon Roofing Supply by 109.5% in the 1st quarter. Comerica Bank now owns 89,967 shares of the company's stock worth $8,818,000 after buying an additional 47,028 shares during the last quarter. 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.