Insider Selling: Beacon Roofing Supply, Inc. (NASDAQ:BECN) Insider Sells 4,000 Shares of Stock - MarketBeat

2022-09-17 04:04:25 By : Mr. William Huang

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Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Rating) insider Jason L. Taylor sold 4,000 shares of the firm's stock in a transaction on Monday, September 12th. The stock was sold at an average price of $57.30, for a total value of $229,200.00. Following the transaction, the insider now directly owns 5,937 shares of the company's stock, valued at $340,190.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN traded up $0.68 during mid-day trading on Thursday, reaching $55.11. The company had a trading volume of 12,658 shares, compared to its average volume of 494,929. The company has a current ratio of 1.91, a quick ratio of 1.02 and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 11.56 and a beta of 1.79. The company's 50-day moving average price is $57.58 and its 200-day moving average price is $58.37. Beacon Roofing Supply, Inc. has a one year low of $45.71 and a one year high of $65.30.

Beacon Roofing Supply (NASDAQ:BECN - Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.44. The business had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.28 billion. Beacon Roofing Supply had a net margin of 5.25% and a return on equity of 29.19%. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.59 EPS. As a group, equities research analysts anticipate that Beacon Roofing Supply, Inc. will post 6.94 EPS for the current fiscal year. Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BECN. JPMorgan Chase & Co. grew its position in Beacon Roofing Supply by 560.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,085,625 shares of the company's stock worth $119,611,000 after acquiring an additional 1,769,848 shares in the last quarter. American Century Companies Inc. grew its position in Beacon Roofing Supply by 8.6% in the first quarter. American Century Companies Inc. now owns 3,622,807 shares of the company's stock worth $214,760,000 after acquiring an additional 285,685 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in Beacon Roofing Supply by 19.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,689,713 shares of the company's stock worth $86,784,000 after acquiring an additional 280,972 shares in the last quarter. FMR LLC grew its position in Beacon Roofing Supply by 1.6% in the second quarter. FMR LLC now owns 10,311,211 shares of the company's stock worth $529,583,000 after acquiring an additional 160,181 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Beacon Roofing Supply by 24.8% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 621,115 shares of the company's stock worth $36,820,000 after acquiring an additional 123,395 shares in the last quarter. Wall Street Analyst Weigh In

Several research analysts recently issued reports on BECN shares. Royal Bank of Canada lowered Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from $70.00 to $58.00 in a research report on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on Beacon Roofing Supply in a report on Wednesday, August 17th. They set a "buy" rating for the company. William Blair downgraded Beacon Roofing Supply from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 19th. Wells Fargo & Company decreased their price target on Beacon Roofing Supply from $67.00 to $56.00 and set an "equal weight" rating for the company in a report on Tuesday, June 28th. Finally, Stephens reduced their target price on Beacon Roofing Supply from $72.00 to $64.00 and set an "equal weight" rating for the company in a research note on Monday, August 8th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $62.43.Beacon Roofing Supply Company Profile (Get Rating)

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It 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.See AlsoGet a free copy of the StockNews.com research report on Beacon Roofing Supply (BECN)Why Medical Products Maker Repligen May Be A Potential Buy At 10%, Is Arbor Realty Trust Dividend Worth It? Investors Should Tune Into RF Industries 2 Reasons Netflix Might Have Just Bottomed OutHas 3M Reached the Point of Being so Bad It’s Good?

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