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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the sale, the insider now directly owns 6,531 shares in the company, valued at $718,410. The trade was a 28.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Beacon Roofing Supply Trading Down 0.3 %

Shares of Beacon Roofing Supply stock opened at $108.94 on Thursday. The stock has a market cap of $6.74 billion, a P/E ratio of 18.62 and a beta of 1.54. Beacon Roofing Supply, Inc. has a 12-month low of $77.54 and a 12-month high of $116.30. The business’s 50 day moving average is $93.31 and its 200-day moving average is $92.71. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stephens reissued an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Robert W. Baird boosted their price objective 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in Beacon Roofing Supply in the 1st quarter valued at about $26,000. Quarry LP raised its stake in Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Blue Trust Inc. boosted its position in Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Beacon Roofing Supply in the third quarter valued at $28,000. Finally, GAMMA Investing LLC raised its position in shares of Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after purchasing an additional 445 shares during the period. 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.