Clement Munroe Best III Sells 5,637 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Clement Munroe Best III sold 5,637 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the sale, the insider now directly owns 69,514 shares in the company, valued at approximately $6,984,071.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, November 8th, Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock traded up $1.04 during midday trading on Friday, hitting $103.25. The company had a trading volume of 700,648 shares, compared to its average volume of 712,904. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 17.65 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 12-month low of $72.56 and a 12-month high of $105.42. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a fifty day simple moving average of $89.63 and a 200 day simple moving average of $92.31.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Royal Bank of Canada upped their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Stephens dropped their price objective on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.22.

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors and hedge funds have recently made changes to their positions in BECN. Acadian Asset Management LLC increased its stake in shares of Beacon Roofing Supply by 15.3% in the first quarter. Acadian Asset Management LLC now owns 374,276 shares of the company’s stock worth $36,671,000 after acquiring an additional 49,634 shares during the period. Boston Partners increased its stake in shares of Beacon Roofing Supply by 79.6% in the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Blair William & Co. IL acquired a new stake in shares of Beacon Roofing Supply during the 1st quarter worth approximately $644,000. Bayesian Capital Management LP acquired a new stake in Beacon Roofing Supply during the first quarter worth $572,000. Finally, Comerica Bank lifted its stake in shares of Beacon Roofing Supply by 109.5% in the 1st quarter. Comerica Bank now owns 89,967 shares of the company’s stock valued at $8,818,000 after purchasing an additional 47,028 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.