Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $118.00 Average Target Price from Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has received a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $118.00.

Several brokerages have recently weighed in on BECN. Robert W. Baird raised their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Stephens reissued an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Royal Bank of Canada upped their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th.

Beacon Roofing Supply Trading Down 0.9 %

NASDAQ BECN opened at $107.95 on Friday. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 18.45 and a beta of 1.59. Beacon Roofing Supply has a 52 week low of $77.54 and a 52 week high of $116.30. The stock’s 50 day moving average price is $101.68 and its two-hundred day moving average price is $94.53. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Insider Transactions at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $103.14, for a total value of $725,796.18. Following the sale, the insider now owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. The trade was a 9.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now directly owns 9,131 shares in the company, valued at $821,790. This trade represents a 22.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,874 shares of company stock worth $1,812,146 in the last 90 days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of hedge funds have recently modified their holdings of BECN. Quarry LP boosted its stake in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the period. Blue Trust Inc. raised its stake in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Beacon Roofing Supply in the third quarter worth about $28,000. GAMMA Investing LLC raised its stake in Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after buying an additional 445 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in Beacon Roofing Supply by 66.7% in the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after buying an additional 500 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Company Profile

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.