Christopher Carl Nelson Sells 3,268 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECNGet Free Report) EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Beacon Roofing Supply Trading Down 0.2 %

Shares of Beacon Roofing Supply stock opened at $100.03 on Wednesday. The stock has a market capitalization of $6.34 billion, a P/E ratio of -212.83, a price-to-earnings-growth ratio of 1.72 and a beta of 1.63. Beacon Roofing Supply, Inc. has a 12-month low of $54.60 and a 12-month high of $100.53. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The company has a 50-day simple moving average of $87.97 and a 200 day simple moving average of $82.58.

Beacon Roofing Supply (NASDAQ:BECNGet Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.22). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. Research analysts expect that Beacon Roofing Supply, Inc. will post 7.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beacon Roofing Supply

Several institutional investors have recently bought and sold shares of BECN. Morgan Stanley increased its stake in shares of Beacon Roofing Supply by 467.9% in the fourth quarter. Morgan Stanley now owns 1,313,406 shares of the company’s stock valued at $69,335,000 after buying an additional 1,082,141 shares in the last quarter. Vanguard Group Inc. increased its position in Beacon Roofing Supply by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock valued at $434,118,000 after acquiring an additional 909,819 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Beacon Roofing Supply by 40.3% in the second quarter. Frontier Capital Management Co. LLC now owns 2,417,307 shares of the company’s stock worth $200,588,000 after acquiring an additional 694,876 shares during the last quarter. Norges Bank acquired a new position in shares of Beacon Roofing Supply during the fourth quarter worth approximately $59,850,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Beacon Roofing Supply by 301.1% during the first quarter. JPMorgan Chase & Co. now owns 849,092 shares of the company’s stock valued at $49,969,000 after purchasing an additional 637,420 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BECN shares. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. Loop Capital upped their target price on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. reduced their target price on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. Robert W. Baird raised shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $99.00 to $115.00 in a report on Thursday, February 29th. Finally, TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.27.

View Our Latest Stock Analysis on BECN

Beacon Roofing Supply Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Beacon Roofing Supply (NASDAQ:BECN)

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