Christopher Carl Nelson Sells 16,595 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) EVP Christopher Carl Nelson sold 16,595 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the completion of the sale, the executive vice president now owns 463 shares in the company, valued at $57,231.43. This represents a 97.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Beacon Roofing Supply Trading Down 0.4 %

Shares of Beacon Roofing Supply stock opened at $121.60 on Wednesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $123.90. The firm has a market cap of $7.51 billion, a PE ratio of 20.79 and a beta of 1.31. The company has a 50 day simple moving average of $119.34 and a two-hundred day simple moving average of $108.20.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BECN has been the topic of several research reports. Loop Capital reissued a “hold” rating and issued a $124.00 price target on shares of Beacon Roofing Supply in a research report on Friday, March 21st. Baird R W cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Raymond James downgraded Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. BMO Capital Markets decreased their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $122.10.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of hedge funds and other institutional investors have recently modified their holdings of BECN. Charles Schwab Investment Management Inc. lifted its position in Beacon Roofing Supply by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock worth $62,489,000 after buying an additional 11,426 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Beacon Roofing Supply during the fourth quarter worth approximately $24,162,000. Barclays PLC lifted its holdings in shares of Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after acquiring an additional 89,222 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Beacon Roofing Supply by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock valued at $103,011,000 after purchasing an additional 20,372 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Beacon Roofing Supply by 1.3% during the 4th quarter. Boston Partners now owns 4,531,106 shares of the company’s stock valued at $462,417,000 after purchasing an additional 59,630 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.