Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Clement Munroe Best III Sells 7,037 Shares

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the sale, the insider now directly owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This trade 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 available at this link.

Clement Munroe Best III also recently made the following trade(s):

• On Wednesday, November 6th, Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock. The stock was sold at an average price of $100.47, for a total value of $566,349.39.

Beacon Roofing Supply Price Performance

BECN stock traded up $1.04 during mid-day trading on Friday, hitting $103.25. 700,681 shares of the stock were exchanged, compared to its average volume of 712,904. Beacon Roofing Supply, Inc. has a 12 month low of $72.56 and a 12 month high of $105.42. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The business has a fifty day moving average price of $89.63 and a 200 day moving average price of $92.31. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 17.58 and a beta of 1.54.

Analysts Set New Price Targets

A number of brokerages recently commented on BECN. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Stephens decreased 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. JPMorgan Chase & Co. increased their price target on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank of Canada increased their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird increased their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.22.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of hedge funds and other institutional investors have recently modified their holdings of BECN. Vanguard Group Inc. raised its position in Beacon Roofing Supply by 14.1% during the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after purchasing an additional 872,216 shares during the last quarter. Boston Partners raised its position in Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after purchasing an additional 569,627 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Beacon Roofing Supply during the 2nd quarter valued at approximately $39,606,000. Jupiter Asset Management Ltd. raised its position in Beacon Roofing Supply by 1,293.8% during the 1st quarter. Jupiter Asset Management Ltd. now owns 399,412 shares of the company’s stock valued at $39,150,000 after purchasing an additional 370,756 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in Beacon Roofing Supply during the 1st quarter valued at approximately $35,777,000. Institutional investors own 98.45% of the company’s stock.

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.