Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Jason L. Taylor Sells 1,805 Shares

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares of the company’s stock, valued at $1,000,445. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $95.05 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. Beacon Roofing Supply, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $96.86. The stock has a market cap of $6.03 billion, a PE ratio of -202.23, a price-to-earnings-growth ratio of 1.67 and a beta of 1.62. The firm’s fifty day simple moving average is $86.86 and its 200-day simple moving average is $81.96.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $99.00 to $115.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. lowered their target price on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th. TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. William Blair raised shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. Finally, StockNews.com raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply currently has an average rating of “Moderate Buy” and a consensus target price of $94.45.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of large investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd grew its stake in Beacon Roofing Supply by 20.1% in the 4th quarter. Quadrature Capital Ltd now owns 52,012 shares of the company’s stock valued at $4,526,000 after acquiring an additional 8,697 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Beacon Roofing Supply by 145.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after acquiring an additional 203 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Beacon Roofing Supply by 49.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 70,103 shares of the company’s stock valued at $6,100,000 after acquiring an additional 23,103 shares during the last quarter. Vanguard Group Inc. grew its stake in Beacon Roofing Supply by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock valued at $536,502,000 after acquiring an additional 539,785 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Beacon Roofing Supply by 11.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock valued at $52,411,000 after acquiring an additional 62,690 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.