Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $118.00.

Several research firms have commented on BECN. Benchmark reissued a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Royal Bank of Canada boosted 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 note on Friday, November 1st. Stephens restated an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Finally, Robert W. Baird boosted their price objective 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.

Insiders Place Their Bets

In other news, insider Clement Munroe Best III sold 7,037 shares of the 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 completion of the transaction, the insider now directly owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $234,000.00. Following the completion of the transaction, the insider now directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. The trade was a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,874 shares of company stock worth $1,812,146. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Large investors have recently bought and sold shares of the business. Quarry LP grew its position in Beacon Roofing Supply by 180.7% during the 3rd 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. Blue Trust Inc. lifted its holdings in Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Beacon Roofing Supply during the 3rd quarter worth $28,000. GAMMA Investing LLC lifted its holdings in Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after buying an additional 445 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its holdings 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 in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Down 0.9 %

Beacon Roofing Supply stock opened at $107.95 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The firm has a market cap of $6.68 billion, a PE ratio of 18.45 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 firm’s 50 day moving average price is $101.68 and its two-hundred day moving average price is $94.53.

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.