Christopher Carl Nelson Sells 1,627 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) EVP Christopher Carl Nelson sold 1,627 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the sale, the executive vice president now owns 320 shares of the company’s stock, valued at approximately $27,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Christopher Carl Nelson also recently made the following trade(s):

• On Friday, June 28th, Christopher Carl Nelson sold 2,955 shares of Beacon Roofing Supply stock. The shares were sold at an average price of $91.11, for a total value of $269,230.05.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $83.45 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47. The stock has a market cap of $5.31 billion, a PE ratio of -132.46 and a beta of 1.58. Beacon Roofing Supply, Inc. has a 12-month low of $68.50 and a 12-month high of $105.42. The business’s 50-day moving average price is $94.18 and its two-hundred day moving average price is $92.65.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 25.83%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $2.66 earnings per share. As a group, analysts expect that Beacon Roofing Supply, Inc. will post 7.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BECN shares. Robert W. Baird dropped their price objective on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Stephens dropped their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price target on Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Royal Bank of Canada dropped their price objective on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Benchmark initiated coverage on Beacon Roofing Supply in a report on Thursday, April 18th. They set a “buy” rating and a $135.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.30.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BECN. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $952,000. Arizona State Retirement System grew its stake in shares of Beacon Roofing Supply by 3.8% in the fourth quarter. Arizona State Retirement System now owns 14,993 shares of the company’s stock worth $1,305,000 after purchasing an additional 551 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Beacon Roofing Supply by 46.1% in the fourth quarter. New York State Teachers Retirement System now owns 5,190 shares of the company’s stock valued at $452,000 after purchasing an additional 1,638 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Beacon Roofing Supply by 8.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,137 shares of the company’s stock worth $2,274,000 after purchasing an additional 2,112 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Beacon Roofing Supply during the 4th quarter worth about $253,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.