Beacon Roofing Supply, Inc. (NASDAQ:BECN) EVP Sells $2,051,307.95 in Stock

Beacon Roofing Supply, Inc. (NASDAQ:BECN) EVP Christopher Carl Nelson sold 16,595 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the completion of the sale, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this link.

Beacon Roofing Supply Price Performance

BECN traded down $0.33 during midday trading on Monday, hitting $122.10. 4,223,330 shares of the company traded hands, compared to its average volume of 1,064,585. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The business has a 50 day simple moving average of $119.22 and a two-hundred day simple moving average of $107.86. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 20.87 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) last posted its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, equities analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BECN. BMO Capital Markets lowered their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Royal Bank of Canada downgraded Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $124.00 to $124.35 in a research note on Wednesday, April 2nd. 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. Finally, Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply has an average rating of “Hold” and a consensus target price of $122.10.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BECN. Quarry LP raised its holdings in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $31,000. Versant Capital Management Inc lifted its position in shares of Beacon Roofing Supply by 133.7% during the first 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 last quarter. Johnson Financial Group Inc. bought a new position in Beacon Roofing Supply during the fourth quarter worth $54,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 38.1% during the fourth 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 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.