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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $117.56.

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

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock opened at $103.68 on Thursday. The business’s fifty day moving average price is $104.73 and its 200 day moving average price is $95.15. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $116.30. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $6.42 billion, a P/E ratio of 17.72 and a beta of 1.61.

Insider Buying and Selling

In other news, insider Clement Munroe Best III sold 5,637 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the sale, the insider now directly owns 69,514 shares in the company, valued at approximately $6,984,071.58. The trade was a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the transaction, the insider now owns 6,531 shares in the company, valued at $718,410. This trade represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,274 shares of company stock worth $1,578,146. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Beacon Roofing Supply

Several institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE boosted its holdings in shares of Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after buying an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Beacon Roofing Supply by 2.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock worth $501,000 after acquiring an additional 147 shares during the last quarter. Equitable Trust Co. boosted its stake in 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 acquiring an additional 156 shares during the period. HighTower Advisors LLC grew its holdings in shares of Beacon Roofing Supply by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after purchasing an additional 181 shares during the last quarter. Finally, Quarry LP raised its position in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. 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.