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 company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total transaction of $286,000.00. Following the sale, the insider now directly owns 6,531 shares of the company’s stock, valued at approximately $718,410. This trade represents a 28.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $108.94 on Thursday. Beacon Roofing Supply, Inc. has a 1-year low of $77.54 and a 1-year high of $116.30. 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 fifty day simple moving average of $93.31 and a two-hundred day simple moving average of $92.71. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 18.62 and a beta of 1.54.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Allspring Global Investments Holdings LLC bought a new position in Beacon Roofing Supply in the 1st quarter worth approximately $26,000. Quarry LP grew its position in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Beacon Roofing Supply in the 3rd quarter worth about $28,000. Finally, GAMMA Investing LLC grew its holdings in Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after buying an additional 445 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.