Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) EVP Christopher Carl Nelson sold 16,595 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the completion of the transaction, the executive vice president now owns 463 shares in the company, valued at approximately $57,231.43. The trade was a 97.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Beacon Roofing Supply Stock Performance
Shares of BECN opened at $122.10 on Tuesday. The firm has a market capitalization of $7.54 billion, a PE ratio of 20.87 and a beta of 1.31. 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 firm has a 50-day moving average price of $119.22 and a 200 day moving average price of $107.86. Beacon Roofing Supply, Inc. has a 52-week low of $77.54 and a 52-week high of $123.90.
Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. On average, sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Beacon Roofing Supply
Hedge funds have recently modified their holdings of the company. Equitable Trust Co. lifted its holdings in shares of Beacon Roofing Supply by 1.7% in the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company's stock valued at $734,000 after buying an additional 122 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after acquiring an additional 150 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after purchasing an additional 163 shares in the last quarter. Cornerstone Investment Partners LLC grew its stake in shares of Beacon Roofing Supply by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company's stock worth $480,000 after purchasing an additional 166 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Beacon Roofing Supply by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock worth $234,000 after purchasing an additional 181 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BECN has been the topic of several research reports. Zelman & Associates lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Baird R W downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. BMO Capital Markets dropped their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Finally, Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $122.10.
Check Out Our Latest Report on Beacon Roofing Supply
Beacon Roofing Supply Company Profile
(
Get Free Report)
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.
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