Insider Selling at Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) reported that insider Clement Munroe Best III has sold 5,637 shares of the company's stock on November 6th. The shares were sold at an average price of $100.47, which amounts to a total sale value of $566,349.39. Following this transaction, Best now holds 69,514 shares of Beacon Roofing Supply, valued at approximately $6,984,071.58. This sale reflects a 0.00% decrease in Best's ownership of the stock. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission (SEC), accessible through official channels.

Clement Munroe Best III has also engaged in additional stock transactions recently. On November 8th, he sold 7,037 shares at an average price of $103.14, resulting in a total transaction value of $725,796.18.

Stock Performance of Beacon Roofing Supply

As of the latest trading session, Beacon Roofing Supply's stock increased by 1.0%, trading at $103.25. During the day, 700,648 shares were exchanged, slightly below the average volume of 712,904 shares. The company boasts a market capitalization of $6.39 billion, a price-to-earnings (P/E) ratio of 17.65, and a beta of 1.54. Furthermore, the stock's 50-day moving average stands at $89.63, while its 200-day moving average is at $92.31. Over the past year, shares have fluctuated between a low of $72.56 and a high of $105.42. Financial metrics include a quick ratio of 1.14, a current ratio of 1.91, and a debt-to-equity ratio of 1.60.

Recent Analyst Ratings and Price Targets

Several analysts recently provided insights into Beacon Roofing Supply. Benchmark maintained a "buy" rating with a price target of $140.00 in a report dated November 1st. Conversely, Stephens revised their price objective downward from $107.00 to $95.00, assigning an "equal weight" rating to the stock as of August 5th. Robert W. Baird increased their target from $115.00 to $120.00 with an "outperform" rating on October 16th. Moreover, JPMorgan raised their price objective from $110.00 to $119.00, indicating an "overweight" rating. Additionally, Royal Bank of Canada adjusted their target from $113.00 to $114.00 while maintaining an "outperform" rating on November 1st. Analysts' ratings show a mix of hold and buy, with three analysts rating the stock as a hold while eight others are in favor of buying. According to average estimates, the stock carries a rating of "Moderate Buy" with a consensus target price of $115.22.

Institutional Activity Surrounding Beacon Roofing Supply

Recent activity involving institutional investors has seen various entities adjusting their holdings in Beacon Roofing Supply. Notably, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in the third quarter valued at $4,331,000. Thrivent Financial for Lutherans increased its stake by 1.4%, now owning 162,694 shares worth $14,061,000 after a purchase. Vaughan Nelson Investment Management L.P. added to its holdings, increasing ownership by 18.7%, reaching a total of 963,077 shares valued at $83,239,000. Natixis Advisors LLC also raised its stake by 21.1%, now holding 214,368 shares valued at $18,528,000. Huntington National Bank expanded its holdings by 14.1%, now controlling 1,668 shares worth $144,000. Collectively, institutional investors own 98.45% of Beacon Roofing Supply's stock.

Company Overview

Beacon Roofing Supply, Inc., along with its subsidiaries, facilitates the distribution of roofing materials for both residential and non-residential sectors. They serve a variety of clients, including contractors, home builders, building owners, lumberyards, and retailers in the U.S. and Canada. The company's product line includes pitched and low slope roofing, gutters, sidings, and various building materials such as lumber, composite materials, roofing products, insulation, and ventilation products.

Insider, Stock, Transactions