Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) fell 5.3% during trading on Thursday . The company traded as low as $55.06 and last traded at $55.09. 1,105,233 shares changed hands during trading, an increase of 65% from the average session volume of 671,138 shares. The stock had previously closed at $58.15.
A number of research firms have recently commented on BECN. Jefferies Group reissued a “buy” rating and set a $73.00 target price on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price (up previously from $62.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. Zacks Investment Research cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 22nd. KeyCorp reissued a “buy” rating and set a $56.00 target price on shares of Beacon Roofing Supply in a research note on Sunday, October 15th. Finally, Robert W. Baird reissued an “outperform” rating and set a $70.00 target price (up previously from $55.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Beacon Roofing Supply has an average rating of “Buy” and an average price target of $58.82.
The stock has a market capitalization of $4,021.03, a PE ratio of 33.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.42.
In related news, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at $10,420,826.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $119,500.00. Following the completion of the transaction, the executive vice president now owns 7,056 shares in the company, valued at $421,596. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.
Large investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC boosted its holdings in Beacon Roofing Supply by 10.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after purchasing an additional 176,659 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Beacon Roofing Supply by 9.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 402,011 shares of the company’s stock valued at $20,604,000 after purchasing an additional 35,141 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Beacon Roofing Supply in the 2nd quarter valued at about $312,000. Point72 Asset Management L.P. acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at about $9,688,000. Finally, Skylands Capital LLC boosted its holdings in Beacon Roofing Supply by 1,144.0% in the 3rd quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock valued at $10,583,000 after purchasing an additional 189,900 shares during the last quarter.
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About Beacon Roofing Supply
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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