Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the sale, the insider now owns 22,642 shares in the company, valued at $2,765,493.88. The trade was a 27.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Beacon Roofing Supply Stock Up 1.2 %
Shares of NASDAQ:BECN opened at $123.00 on Thursday. 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 business has a fifty day moving average of $119.51 and a two-hundred day moving average of $108.57. The stock has a market cap of $7.60 billion, a P/E ratio of 21.03 and a beta of 1.31. 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 released its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, research analysts expect that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.
Hedge Funds Weigh In On Beacon Roofing Supply
Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in shares of Beacon Roofing Supply during the 4th quarter worth $31,000. Quarry LP grew its holdings in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company's stock worth $26,000 after purchasing an additional 197 shares during the period. Versant Capital Management Inc grew its holdings in shares of Beacon Roofing Supply by 133.7% during the 1st quarter. Versant Capital Management Inc now owns 388 shares of the company's stock worth $48,000 after purchasing an additional 222 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Beacon Roofing Supply during the 4th quarter worth $54,000. Finally, PNC Financial Services Group Inc. boosted its holdings in 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 acquiring an additional 163 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
BECN has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price target 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. Robert W. Baird boosted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. StockNews.com began coverage on Beacon Roofing Supply in a research note on Thursday. They set a "sell" rating on the stock. Royal Bank of Canada lowered Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and upped their target price for the company from $124.00 to $124.35 in a research report on Wednesday, April 2nd. Finally, Benchmark reiterated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $122.10.
Read Our Latest Analysis 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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