Christopher Carl Nelson Sells 2,955 Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) EVP Christopher Carl Nelson sold 2,955 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $91.11, for a total transaction of $269,230.05. Following the transaction, the executive vice president now directly owns 320 shares of the company’s stock, valued at approximately $29,155.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $88.17 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.87 and a quick ratio of 1.02. Beacon Roofing Supply, Inc. has a 1-year low of $68.50 and a 1-year high of $103.75. The firm has a market capitalization of $5.61 billion, a P/E ratio of -139.95 and a beta of 1.58. The company’s 50-day moving average is $95.44 and its 200 day moving average is $91.32.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. Research analysts forecast that Beacon Roofing Supply, Inc. will post 7.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Benchmark assumed coverage on shares of Beacon Roofing Supply in a report on Thursday, April 18th. They issued a “buy” rating and a $135.00 price target for the company. BMO Capital Markets increased their price target on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Loop Capital increased their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Robert W. Baird increased their price target on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.45.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Beacon Roofing Supply by 14.1% during the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after acquiring an additional 872,216 shares during the period. American Century Companies Inc. increased its position in shares of Beacon Roofing Supply by 9.3% during the third quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock worth $211,017,000 after acquiring an additional 233,393 shares during the period. Frontier Capital Management Co. LLC increased its position in shares of Beacon Roofing Supply by 17.3% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,126,533 shares of the company’s stock worth $185,051,000 after acquiring an additional 314,102 shares during the period. Fiduciary Management Inc. WI increased its position in shares of Beacon Roofing Supply by 4.0% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,888,614 shares of the company’s stock worth $164,347,000 after acquiring an additional 72,472 shares during the period. Finally, Boston Partners increased its position in shares of Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after acquiring an additional 569,627 shares during the period. 98.45% of the stock is 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.