Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks in a research report issued on Friday, November 10th. They currently have a $55.00 price objective on the stock. SunTrust Banks’ target price would indicate a potential downside of 13.18% from the company’s current price.
Other equities analysts have also issued reports about the stock. Citigroup boosted their price target on shares of Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. KeyCorp upgraded shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research report on Friday, August 25th. Wells Fargo & Company started coverage on shares of Beacon Roofing Supply in a research report on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price target on the stock. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price target on the stock in a research report on Tuesday, October 3rd. Finally, Northcoast Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.58.
Beacon Roofing Supply (NASDAQ BECN) traded up $1.90 during mid-day trading on Friday, hitting $63.35. 1,250,900 shares of the stock were exchanged, compared to its average volume of 520,270. The stock has a market capitalization of $4,080.00, a PE ratio of 28.24, a P/E/G ratio of 0.80 and a beta of 1.45. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.42. Beacon Roofing Supply has a twelve month low of $39.57 and a twelve month high of $63.62.
In other Beacon Roofing Supply news, 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 value of $119,500.00. Following the transaction, the executive vice president now directly owns 7,056 shares in the company, valued at approximately $421,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief executive officer now owns 172,046 shares in the company, valued at $10,420,826.22. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.
A number of large investors have recently bought and sold shares of BECN. Principal Financial Group Inc. boosted its holdings in Beacon Roofing Supply by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 30,621 shares of the company’s stock valued at $1,506,000 after purchasing an additional 585 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Beacon Roofing Supply by 1.6% in the 1st quarter. Teachers Advisors LLC now owns 385,650 shares of the company’s stock valued at $18,959,000 after acquiring an additional 5,912 shares during the period. BlackRock Inc. raised its stake in shares of Beacon Roofing Supply by 80,484.5% in the 1st quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock valued at $197,720,000 after acquiring an additional 4,016,982 shares during the period. State Street Corp raised its stake in shares of Beacon Roofing Supply by 2.4% in the 1st quarter. State Street Corp now owns 1,115,764 shares of the company’s stock valued at $54,844,000 after acquiring an additional 26,202 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Beacon Roofing Supply in the 1st quarter valued at approximately $250,000.
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Beacon Roofing Supply Company Profile
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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