Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $121.11 Average Price Target from Brokerages

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $121.11.

A number of brokerages recently commented on BECN. Benchmark restated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Robert W. Baird upped their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Stephens reaffirmed 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. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada upped their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Insider Transactions at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $110.00, for a total transaction of $286,000.00. Following the sale, the insider now directly owns 6,531 shares of the company’s stock, valued at $718,410. This trade represents a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction 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 directly owns 69,449 shares in the company, valued at $7,162,969.86. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,274 shares of company stock valued at $1,578,146. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BECN. Quarry LP lifted its holdings in 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 acquiring an additional 197 shares during the period. Blue Trust Inc. lifted its holdings in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Beacon Roofing Supply in the third quarter valued at about $28,000. GAMMA Investing LLC raised its stake in shares of 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 during the period. Finally, Central Pacific Bank Trust Division raised its stake in shares of 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 during the period. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock opened at $118.40 on Monday. 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 company has a market cap of $7.33 billion, a PE ratio of 20.24 and a beta of 1.61. The business has a 50 day moving average of $108.71 and a 200 day moving average of $97.68. Beacon Roofing Supply has a 52 week low of $77.54 and a 52 week high of $121.22.

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.