Other equities research analysts have also issued reports about the stock. StockNews.com started coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 12th. They set a hold rating on the stock. Stifel Nicolaus increased their target price on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a buy rating in a research note on Monday, December 19th. Robert W. Baird lowered shares of Beacon Roofing Supply from an outperform rating to a neutral rating and decreased their price target for the company from $77.00 to $65.00 in a research note on Friday, October 14th. Finally, Royal Bank of Canada decreased their price target on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a sector perform rating on the stock in a research note on Monday, November 7th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $65.63.
Beacon Roofing Supply Price Performance
Shares of BECN opened at $52.32 on Tuesday. The business’s 50-day moving average is $56.11 and its two-hundred day moving average is $56.18. The company has a market capitalization of $3.40 billion, a P/E ratio of 9.62 and a beta of 1.60. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.10 and a current ratio of 1.92. Beacon Roofing Supply has a fifty-two week low of $45.71 and a fifty-two week high of $65.30.
Insider Activity at Beacon Roofing Supply
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 105,320 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were acquired at an average cost of $56.97 per share, with a total value of $6,000,080.40. Following the purchase, the insider now directly owns 14,964,899 shares of the company’s stock, valued at approximately $852,550,296.03. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.95% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of BECN. Advisor Group Holdings Inc. lifted its stake in Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares in the last quarter. Raymond James & Associates lifted its stake in Beacon Roofing Supply by 11.6% in the 1st quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock worth $797,000 after purchasing an additional 1,397 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Beacon Roofing Supply during the 1st quarter worth approximately $317,000. AlphaCrest Capital Management LLC increased its holdings in shares of Beacon Roofing Supply by 4.0% during the 1st quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock worth $419,000 after buying an additional 273 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Beacon Roofing Supply by 27.0% during the 1st quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock worth $665,000 after buying an additional 2,267 shares during the last quarter.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It 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.
- Get a free copy of the StockNews.com research report on Beacon Roofing Supply (BECN)
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