Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $115.22 Consensus Target Price from Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has received an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $115.22.

Several brokerages have recently issued reports on BECN. Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Stephens decreased their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Robert W. Baird lifted 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. JPMorgan Chase & Co. lifted their price objective on Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Beacon Roofing Supply Trading Down 2.2 %

Shares of Beacon Roofing Supply stock opened at $98.75 on Wednesday. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $105.84. The firm has a market cap of $6.11 billion, a PE ratio of 16.88 and a beta of 1.54. The stock has a fifty day moving average price of $91.58 and a 200-day moving average price of $92.43. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now owns 9,131 shares in the company, valued at approximately $821,790. This trade represents a 22.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction dated 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 owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This trade represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,274 shares of company stock valued at $1,526,146 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Beacon Roofing Supply

A number of large investors have recently modified their holdings of the business. Barclays PLC boosted its position in shares of Beacon Roofing Supply by 272.0% during the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after acquiring an additional 89,222 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at about $599,000. MML Investors Services LLC bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at about $268,000. Pier Capital LLC bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at about $7,629,000. Finally, XTX Topco Ltd bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at about $266,000. Institutional investors own 98.45% of the company’s stock.

About Beacon Roofing Supply

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.