Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $117.88 Consensus Target Price from Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have earned an average rating of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $117.88.

BECN has been the subject of several research reports. Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Stephens reiterated an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Royal Bank of Canada boosted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird increased their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th.

Insider Buying and Selling at Beacon Roofing Supply

In related 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 stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the sale, the insider now owns 69,449 shares in the company, valued at $7,162,969.86. This represents a 9.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the transaction, the insider now directly owns 6,531 shares of the company’s stock, valued at $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,874 shares of company stock valued at $1,812,146. 1.30% of the stock is owned by company insiders.

Institutional Trading of Beacon Roofing Supply

Large investors have recently bought and sold shares of the company. US Bancorp DE grew its position in shares of Beacon Roofing Supply by 2.3% in the third quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after purchasing an additional 116 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Beacon Roofing Supply by 2.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock valued at $501,000 after buying an additional 147 shares in the last quarter. Equitable Trust Co. grew its holdings in Beacon Roofing Supply by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock valued at $614,000 after buying an additional 156 shares during the last quarter. HighTower Advisors LLC increased its position in Beacon Roofing Supply by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock worth $234,000 after buying an additional 181 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $102.60 on Thursday. The stock has a market cap of $6.35 billion, a P/E ratio of 17.54 and a beta of 1.59. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $116.30. The stock has a 50 day moving average of $104.41 and a two-hundred day moving average of $95.06. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

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.