Beacon Roofing Supply (NASDAQ:BECN) Given “Buy” Rating at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has a $115.00 price target on the stock.

BECN has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada increased their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued 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 issued a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, Robert W. Baird raised their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.56.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $103.68 on Wednesday. The company has a market cap of $6.42 billion, a P/E ratio of 17.72 and a beta of 1.61. The firm has a fifty day moving average price of $104.73 and a 200 day moving average price of $95.15. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $116.30.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the transaction, the insider now directly owns 6,531 shares of the company’s stock, valued at $718,410. This represents a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 completion of the sale, the insider now directly owns 69,449 shares in the company, valued at $7,162,969.86. This represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,274 shares of company stock valued at $1,578,146 in the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

A number of institutional investors have recently modified their holdings of BECN. Quarry LP boosted its position in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Blue Trust Inc. boosted its holdings in Beacon Roofing Supply by 222.1% during 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 acquired a new position in Beacon Roofing Supply during the third quarter worth about $28,000. GAMMA Investing LLC increased its holdings in Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after buying an additional 445 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in shares of Beacon Roofing Supply by 66.7% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after acquiring an additional 500 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.