Christopher Carl Nelson Sells 2,955 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) EVP Christopher Carl Nelson sold 2,955 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $91.11, for a total value of $269,230.05. Following the transaction, the executive vice president now directly owns 320 shares of the company’s stock, valued at $29,155.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $88.17 on Thursday. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of -139.95 and a beta of 1.58. Beacon Roofing Supply, Inc. has a 52-week low of $68.50 and a 52-week high of $103.75. The stock has a fifty day moving average of $95.44 and a 200 day moving average of $91.32. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.02 and a current ratio of 1.87.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. On average, research analysts expect that Beacon Roofing Supply, Inc. will post 7.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Beacon Roofing Supply

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Beacon Roofing Supply during the first quarter valued at about $26,000. PNC Financial Services Group Inc. raised its position in Beacon Roofing Supply by 145.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after purchasing an additional 203 shares in the last quarter. Quarry LP raised its position in Beacon Roofing Supply by 127.1% during the fourth quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after purchasing an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in Beacon Roofing Supply during the fourth quarter valued at about $36,000. Finally, Parkside Financial Bank & Trust raised its position in Beacon Roofing Supply by 86.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 910 shares of the company’s stock valued at $79,000 after purchasing an additional 423 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BECN. BMO Capital Markets increased their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Loop Capital raised their price target on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Benchmark initiated coverage on Beacon Roofing Supply in a report on Thursday, April 18th. They issued a “buy” rating and a $135.00 price target for the company. Finally, Truist Financial raised their price target on Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.45.

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.