Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Jason L. Taylor Sells 2,600 Shares

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the transaction, the insider now directly owns 6,531 shares in the company, valued at $718,410. This represents a 28.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Beacon Roofing Supply Trading Up 3.3 %

Shares of BECN stock opened at $112.18 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $116.30. The company has a market capitalization of $6.94 billion, a PE ratio of 19.19 and a beta of 1.54. The business’s fifty day moving average is $93.87 and its 200 day moving average is $92.83.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upped their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Stephens reaffirmed an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of institutional investors and hedge funds have recently made changes to their positions in BECN. FMR LLC raised its position in shares of Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after buying an additional 963,633 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Beacon Roofing Supply by 14.1% in the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after buying an additional 872,216 shares in the last quarter. Janus Henderson Group PLC increased its stake in Beacon Roofing Supply by 1,449.0% in the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock valued at $53,205,000 after acquiring an additional 575,852 shares during the last quarter. Boston Partners increased its stake in Beacon Roofing Supply by 79.6% in the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Finally, Citigroup Inc. increased its stake in Beacon Roofing Supply by 1,192.1% in the third quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock valued at $44,398,000 after acquiring an additional 473,937 shares during the last quarter. Hedge funds and other 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.