Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Clement Munroe Best III Sells 5,637 Shares

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now owns 69,514 shares of the company’s stock, valued at $6,984,071.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 Beacon Roofing Supply stock opened at $103.25 on Friday. The company’s fifty day simple moving average is $89.89 and its two-hundred day simple moving average is $92.36. Beacon Roofing Supply, Inc. has a 12-month low of $72.56 and a 12-month high of $105.42. The firm has a market cap of $6.39 billion, a PE 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.

Analyst Ratings Changes

BECN has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada boosted their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird increased their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Benchmark reissued a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Finally, Stephens dropped their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.22.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC bought a new stake in Beacon Roofing Supply in the third quarter valued at $1,441,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at about $4,331,000. Thrivent Financial for Lutherans increased its position in shares of Beacon Roofing Supply by 1.4% during the third quarter. Thrivent Financial for Lutherans now owns 162,694 shares of the company’s stock valued at $14,061,000 after buying an additional 2,284 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Beacon Roofing Supply by 18.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company’s stock worth $83,239,000 after buying an additional 152,030 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in Beacon Roofing Supply by 21.1% in the third quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock worth $18,528,000 after buying an additional 37,347 shares during the period. Hedge funds and other 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.