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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Clement Munroe Best III sold 7,037 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the transaction, the insider now owns 69,449 shares in the company, valued at approximately $7,162,969.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

Shares of Beacon Roofing Supply stock opened at $103.25 on Friday. Beacon Roofing Supply, Inc. has a 1-year low of $72.56 and a 1-year high of $105.42. The firm’s 50-day moving average price is $89.89 and its two-hundred day moving average price is $92.36. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 17.65 and a beta of 1.54.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BECN. Robert W. Baird raised their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Stephens decreased their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Royal Bank of Canada raised their price objective 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Moderate Buy” and an average target price of $115.22.

Hedge Funds Weigh In On Beacon Roofing Supply

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Beacon Roofing Supply during the 1st quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in shares of Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 211 shares during the period. GAMMA Investing LLC increased its position in shares of Beacon Roofing Supply by 154.0% during the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after acquiring an additional 445 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after acquiring an additional 500 shares during the period. Finally, Plato Investment Management Ltd lifted its position in Beacon Roofing Supply by 140.3% in the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after acquiring an additional 648 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

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.