Beacon Roofing Supply, Inc. (NASDAQ: BECN) insider Clement Munroe Best III sold 11,000 shares in the company on Friday, February 19. The shares were sold at an average price of $ 47.06 for a total value of $ 517,660.00. Following the sale, the Insider now holds 71,002 shares in the company valued at $ 3,341,354.12. The sale was disclosed in a document filed with the SEC, which is available on the SEC website.
BECN’s shares were trading at $ 0.13 during mid-day trading Tuesday, to hit $ 46.96. The stock had a trading volume of 332,455 shares versus an average volume of 385,570 shares. The company has a market cap of $ 3.26 billion, a PE ratio of -28.46, and a beta of 1.97. The company’s fifty day simple moving average is $ 43.42 and the two hundred day simple moving average is $ 36.93. The company has a quick rate of 1.25, a current rate of 1.82, and a leverage ratio of 1.56. Beacon Roofing Supply, Inc. has a fifty-two week low of $ 11.66 and a fifty-two week high of $ 48.48.
Beacon Roofing Supply (NASDAQ: BECN) last released its results on Sunday, February 7th. The company reported earnings per share for the quarter of $ 1.15, beating the consensus estimate of $ 0.60 by $ 0.55. Beacon Roofing Supply achieved a positive return on equity of 10.89% and a negative net margin of 1.16%. The company had revenue of $ 1.83 billion for the quarter, compared to analyst estimates of $ 1.70 billion. For the same quarter last year, the company posted earnings of $ 0.36 per share. The company’s sales increased by 9.0% compared to the previous year. Stock analysts expect Beacon Roofing Supply, Inc. to achieve earnings per share of 2.97 this year.
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A number of major investors recently added or reduced their stake in BECN. FMR LLC increased its position in Beacon Roofing Supply by 175.1% in the first quarter. FMR LLC now owns 550,230 shares of the company valued at $ 17,695,000 after purchasing an additional 350,228 shares during the period. Envestnet Asset Management Inc. increased its position in Beacon Roofing Supply by 29.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 16,201 shares in the company valued at $ 503,000 after purchasing an additional 3,708 shares during the period. Nisa Investment Advisors LLC increased its position in Beacon Roofing Supply by 23.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,330 shares of the company valued at $ 259,000 after purchasing an additional 1,600 shares during the reporting period. Skylands Capital LLC increased its stake in Beacon Roofing Supply by 18.3% in the third quarter. Skylands Capital LLC now owns 347,100 shares of the company valued at $ 10,784,000 after purchasing an additional 53,575 shares last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Beacon Roofing Supply worth $ 93,000 in the third quarter.
BECN has been the subject of several analyst reports. Truist raised its target price for Beacon Roofing Supply from $ 43.00 to $ 49.00 in a report on Tuesday, February 9th. Longbow Research upgraded Beacon Roofing Supply from a “neutral” rating to a “buy” rating in a report on Tuesday, January 26, and set a price target of $ 60.00 on the stock. Robert W. Baird raised his target price for Beacon Roofing Supply from $ 43.00 to $ 48.00 and rated the stock as “Outperform” in a report on Friday, November 20th. Loop Capital raised its target price on Beacon Roofing Supply from $ 42.00 to $ 46.00 and gave the stock a “Buy” rating in a report on Friday, November 20. Eventually, Zacks Investment Research downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and set a price target of $ 45.00 on the stock. in a report on Friday January 22nd. One research analyst has rated the stock with a sell rating, six with a hold rating and nine with a buy rating. Beacon Roofing Supply has an average rating of “Buy” and a consensus target of $ 38.16.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials and ancillary construction products to contractors, home builders, builders and retailers. The company’s residential roofing products include asphalt shingles, synthetic slate and brick, clay and concrete tile, slate, nail base insulation, metal roofing, felt, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edging and siding, pre-fabricated moldings, ridges and Reveal openings and solar systems.
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