Insider Buying: Beacon Roofing Supply, Inc. (NASDAQ:BECN) Director Buys 3,000 Shares of Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Director Richard W. Frost purchased 3,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $30.05 per share, for a total transaction of $90,150.00. Following the acquisition, the director now owns 37,249 shares of the company’s stock, valued at $1,119,332.45. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of NASDAQ BECN traded down $0.79 during midday trading on Monday, reaching $28.86. The company’s stock had a trading volume of 71,749 shares, compared to its average volume of 599,970. The company has a current ratio of 1.75, a quick ratio of 1.04 and a debt-to-equity ratio of 1.39. Beacon Roofing Supply, Inc. has a fifty-two week low of $26.50 and a fifty-two week high of $40.00. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 1.08 and a beta of 1.37. The stock has a 50 day simple moving average of $32.54 and a 200-day simple moving average of $33.83.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Monday, November 25th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.17). Beacon Roofing Supply had a negative net margin of 0.15% and a positive return on equity of 9.55%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business earned $1.07 earnings per share. Beacon Roofing Supply’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Beacon Roofing Supply, Inc. will post 2.69 EPS for the current year.

Several equities analysts have commented on BECN shares. Wedbush reiterated a “neutral” rating and set a $29.00 price target (down previously from $33.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 26th. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating and set a $28.00 price objective on the stock in a research note on Wednesday, November 27th. Raymond James downgraded shares of Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 27th. BidaskClub cut Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. cut Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 price objective for the company. in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.09.

Several large investors have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake in Beacon Roofing Supply by 5.2% in the second quarter. Aperio Group LLC now owns 13,637 shares of the company’s stock valued at $501,000 after purchasing an additional 671 shares in the last quarter. Griffin Asset Management Inc. acquired a new position in Beacon Roofing Supply in the second quarter valued at about $37,000. California State Teachers Retirement System raised its stake in Beacon Roofing Supply by 1.1% in the third quarter. California State Teachers Retirement System now owns 105,850 shares of the company’s stock valued at $3,549,000 after purchasing an additional 1,104 shares in the last quarter. Strs Ohio raised its stake in Beacon Roofing Supply by 65.0% in the second quarter. Strs Ohio now owns 3,300 shares of the company’s stock valued at $121,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in Beacon Roofing Supply by 0.7% in the second quarter. Eagle Asset Management Inc. now owns 202,780 shares of the company’s stock valued at $7,446,000 after purchasing an additional 1,464 shares in the last quarter.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

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