Beacon Roofing Supply (NASDAQ:BECN) Hits New 1-Year High at $66.84

Beacon Roofing Supply, Inc. (NASDAQ:BECNGet Rating)’s stock price hit a new 52-week high on Friday . The company traded as high as $66.84 and last traded at $66.82, with a volume of 139246 shares traded. The stock had previously closed at $65.71.

Analyst Upgrades and Downgrades

BECN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Beacon Roofing Supply from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Stifel Nicolaus lifted their price objective on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 19th. Royal Bank of Canada cut their target price on Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating for the company in a research note on Monday, November 7th. Zelman & Associates began coverage on Beacon Roofing Supply in a report on Tuesday, February 7th. They set a “hold” rating on the stock. Finally, Robert W. Baird raised their target price on Beacon Roofing Supply from $65.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply currently has an average rating of “Hold” and an average price target of $70.57.

Beacon Roofing Supply Trading Up 2.5 %

The business has a 50 day moving average of $57.45 and a 200-day moving average of $56.82. The stock has a market cap of $4.33 billion, a PE ratio of 12.11 and a beta of 1.58. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 1.01.

Insider Activity

In related news, major shareholder Cd&R Investment Associates Ix, acquired 107,185 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was purchased at an average price of $55.98 per share, for a total transaction of $6,000,216.30. Following the transaction, the insider now owns 15,072,084 shares in the company, valued at approximately $843,735,262.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.95% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Clayton Dubilier & Rice LLC boosted its holdings in shares of Beacon Roofing Supply by 0.7% during the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,983,387 shares of the company’s stock worth $790,973,000 after purchasing an additional 105,320 shares during the last quarter. FMR LLC grew its holdings in Beacon Roofing Supply by 1.6% in the 2nd quarter. FMR LLC now owns 10,311,211 shares of the company’s stock valued at $529,583,000 after buying an additional 160,181 shares during the period. American Century Companies Inc. grew its holdings in Beacon Roofing Supply by 53.5% in the 4th quarter. American Century Companies Inc. now owns 3,645,264 shares of the company’s stock valued at $192,433,000 after buying an additional 1,270,771 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Beacon Roofing Supply by 4.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after acquiring an additional 106,890 shares during the last quarter. Finally, Fiduciary Management Inc. WI lifted its holdings in shares of Beacon Roofing Supply by 4.2% during the 3rd quarter. Fiduciary Management Inc. WI now owns 1,794,826 shares of the company’s stock worth $98,213,000 after acquiring an additional 71,900 shares during the period.

About Beacon Roofing Supply

(Get Rating)

Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.

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