Beacon Roofing Supply (NASDAQ:BECN) Receives Equal Weight Rating from Stephens

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “equal weight” rating restated by research analysts at Stephens in a research report issued on Tuesday,Benzinga reports. They presently have a $103.00 target price on the stock. Stephens’ price target suggests a potential downside of 5.32% from the stock’s current price.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. 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 note on Wednesday, October 16th. Royal Bank of Canada increased their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.11.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock traded up $0.28 during mid-day trading on Tuesday, reaching $108.79. 488,825 shares of the company’s stock traded hands, compared to its average volume of 723,580. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $116.30. 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 stock has a 50 day moving average of $91.58 and a two-hundred day moving average of $92.43. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 18.58 and a beta of 1.54.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction 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 sale, the insider now owns 9,131 shares of the company’s stock, valued at approximately $821,790. This trade represents a 22.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the transaction, the insider now owns 69,514 shares in the company, valued at $6,984,071.58. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,274 shares of company stock worth $1,526,146 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Beacon Roofing Supply by 14.1% during the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after purchasing an additional 872,216 shares during the last quarter. FMR LLC raised its stake in Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after buying an additional 963,633 shares during the last quarter. State Street Corp boosted its holdings in Beacon Roofing Supply by 1.1% in the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after acquiring an additional 15,505 shares in the last quarter. Boston Partners grew its stake in shares of Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Beacon Roofing Supply by 0.3% in the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock valued at $85,887,000 after purchasing an additional 2,607 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Company Profile

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.