Jason L. Taylor Sells 2,600 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the sale, the insider now directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Beacon Roofing Supply Price Performance

Shares of BECN traded down $0.67 during midday trading on Wednesday, reaching $94.49. The stock had a trading volume of 622,329 shares, compared to its average volume of 717,640. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. The company has a market capitalization of $6.01 billion, a P/E ratio of -149.75 and a beta of 1.55. The firm’s 50 day moving average price is $86.53 and its 200-day moving average price is $92.72. Beacon Roofing Supply, Inc. has a 52 week low of $68.50 and a 52 week high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.47). The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. Beacon Roofing Supply’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.66 earnings per share. On average, analysts forecast that Beacon Roofing Supply, Inc. will post 7.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on BECN. Royal Bank of Canada reduced their target price on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird reduced their price target on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Stephens decreased their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.30.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of institutional investors have recently bought and sold shares of the stock. Capstone Investment Advisors LLC acquired a new position in shares of Beacon Roofing Supply in the first quarter worth about $1,664,000. Benson Investment Management Company Inc. purchased a new position in Beacon Roofing Supply during the 1st quarter worth approximately $3,807,000. Goldman Sachs Group Inc. raised its stake in Beacon Roofing Supply by 11.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock valued at $52,411,000 after purchasing an additional 62,690 shares during the period. Virtu Financial LLC acquired a new stake in Beacon Roofing Supply during the 4th quarter valued at $711,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Beacon Roofing Supply by 549.8% in the first quarter. Principal Financial Group Inc. now owns 46,932 shares of the company’s stock valued at $4,600,000 after purchasing an additional 39,710 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.