Brokerages Set Beacon Roofing Supply, Inc. (NASDAQ:BECN) PT at $117.88

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has received an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $117.88.

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

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $102.60 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The firm has a market cap of $6.35 billion, a PE ratio of 17.54 and a beta of 1.59. The firm has a 50 day simple moving average of $104.41 and a 200-day simple moving average of $95.06. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $116.30.

Insider Buying and Selling

In other news, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was 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 owns 69,449 shares of the company’s stock, valued at $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the sale, the insider now owns 6,531 shares in the company, valued at approximately $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,874 shares of company stock valued at $1,812,146. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE raised its stake in shares of Beacon Roofing Supply by 2.3% during the third quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after purchasing an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Beacon Roofing Supply by 2.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock valued at $501,000 after purchasing an additional 147 shares in the last quarter. Equitable Trust Co. increased its stake in Beacon Roofing Supply by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock worth $614,000 after buying an additional 156 shares during the period. HighTower Advisors LLC lifted its holdings in Beacon Roofing Supply by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock worth $234,000 after buying an additional 181 shares in the last quarter. Finally, Quarry LP boosted its position in Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the last quarter. Hedge funds and other 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.