Beacon Roofing Supply’s (BECN) “Equal Weight” Rating Reiterated at Stephens

Stephens reissued their equal weight rating on shares of Beacon Roofing Supply (NASDAQ:BECNFree Report) in a research report released on Tuesday morning,Benzinga reports. Stephens currently has a $103.00 price objective on the stock.

Several other equities analysts also recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird increased 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, JPMorgan Chase & Co. increased their target price on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

View Our Latest Research Report on Beacon Roofing Supply

Beacon Roofing Supply Stock Performance

BECN opened at $109.30 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 18.68 and a beta of 1.54. Beacon Roofing Supply has a 52-week low of $77.54 and a 52-week high of $116.30. The firm’s fifty day simple moving average is $93.31 and its two-hundred day simple moving average is $92.71.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction dated Monday, October 7th. The shares were 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 directly owns 9,131 shares in the company, valued at $821,790. This trade represents a 22.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the sale, the insider now owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,874 shares of company stock worth $1,812,146. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Beacon Roofing Supply

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Beacon Roofing Supply during the first quarter valued at about $26,000. Blue Trust Inc. increased its position in shares of Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. Quarry LP increased its position in shares of Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Beacon Roofing Supply during the third quarter valued at about $28,000. Finally, GAMMA Investing LLC increased its position in shares of Beacon Roofing Supply by 154.0% during the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after acquiring an additional 445 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Company Profile

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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.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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