Beacon Roofing Supply (NASDAQ:BECN) Receives Buy Rating from Stifel Nicolaus

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

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Robert W. Baird raised their price objective 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. Royal Bank of Canada raised their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Finally, Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.56.

Beacon Roofing Supply Trading Down 1.5 %

Shares of BECN stock opened at $102.10 on Wednesday. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $116.30. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The business’s 50 day moving average is $105.13 and its two-hundred day moving average is $95.26. The company has a market cap of $6.32 billion, a PE ratio of 17.45 and a beta of 1.61.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total transaction of $566,349.39. Following the completion of the transaction, the insider now directly owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the transaction, the insider now directly owns 6,531 shares of the company’s stock, 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. Insiders sold a total of 15,274 shares of company stock valued at $1,578,146 over the last ninety days. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE lifted its holdings 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 acquiring an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Beacon Roofing Supply by 2.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock valued at $501,000 after acquiring an additional 147 shares during the period. Equitable Trust Co. raised its holdings in shares of Beacon Roofing Supply by 2.2% in the third quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock valued at $614,000 after buying an additional 156 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after buying an additional 181 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Beacon Roofing Supply by 180.7% in 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 last quarter. 98.45% of the stock is owned by 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.