Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

Several equities research analysts have issued reports on BECN shares. Robert W. Baird lifted their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Stephens cut their price objective on shares of 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. Royal Bank of Canada boosted their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Benchmark restated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 69,449 shares in the company, valued at approximately $7,162,969.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $103.14, for a total value of $725,796.18. Following the transaction, the insider now directly owns 69,449 shares in the company, valued at approximately $7,162,969.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 9,131 shares of the company’s stock, valued at $821,790. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,274 shares of company stock worth $1,526,146 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors and hedge funds have recently modified their holdings of BECN. Allspring Global Investments Holdings LLC purchased a new position in Beacon Roofing Supply during the 1st quarter valued at about $26,000. Blue Trust Inc. grew its holdings in shares of Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after purchasing an additional 445 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in Beacon Roofing Supply by 66.7% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock worth $108,000 after buying an additional 500 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in Beacon Roofing Supply by 140.3% during the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock worth $109,000 after buying an additional 648 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $103.85 on Wednesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $90.53 and its 200-day simple moving average is $92.37. The company has a market cap of $6.43 billion, a PE ratio of 17.75 and a beta of 1.54. Beacon Roofing Supply has a 1-year low of $74.79 and a 1-year high of $105.84.

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.