Brokerages Set Beacon Roofing Supply, Inc. (NASDAQ:BECN) PT at $115.22

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $115.22.

BECN has been the subject of a number of research analyst reports. 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 cut their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. 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 report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $98.75 on Wednesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The company has a market capitalization of $6.11 billion, a PE ratio of 16.88 and a beta of 1.54. The company has a 50 day moving average price of $91.58 and a 200-day moving average price of $92.50. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $105.84.

Insider Activity

In other news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on 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 represents a 22.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the sale, the insider now directly owns 69,449 shares in the company, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,274 shares of company stock worth $1,526,146. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after purchasing an additional 116 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of 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 period. SummerHaven Investment Management LLC raised its holdings in Beacon Roofing Supply by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock worth $803,000 after purchasing an additional 156 shares during the period. Equitable Trust Co. boosted its position in Beacon Roofing Supply by 2.2% during the third quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock worth $614,000 after purchasing an additional 156 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Beacon Roofing Supply by 1.5% in the first quarter. QRG Capital Management Inc. now owns 10,475 shares of the company’s stock valued at $1,027,000 after buying an additional 157 shares in 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.