Beacon Roofing Supply (NASDAQ:BECN) Given New $119.00 Price Target at JPMorgan Chase & Co.

Beacon Roofing Supply (NASDAQ:BECN) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $110.00 to $119.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 16.69% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Robert W. Baird upped their price target 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. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Royal Bank of Canada raised 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, Stephens dropped their target price on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Beacon Roofing Supply presently has a consensus rating of “Moderate Buy” and an average price target of $115.22.

Beacon Roofing Supply Trading Up 1.3 %

Shares of Beacon Roofing Supply stock traded up $1.26 during trading on Thursday, hitting $101.98. The company’s stock had a trading volume of 172,386 shares, compared to its average volume of 710,255. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 17.44 and a beta of 1.54. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply has a 52 week low of $72.56 and a 52 week high of $105.42. The stock has a 50-day moving average price of $89.37 and a two-hundred day moving average price of $92.24.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 9,131 shares of the company’s stock, valued at $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

Several hedge funds have recently made changes to their positions in BECN. Allspring Global Investments Holdings LLC bought a new stake in Beacon Roofing Supply during the first quarter valued at $26,000. Daiwa Securities Group Inc. bought a new stake in Beacon Roofing Supply during the first quarter worth about $118,000. SG Americas Securities LLC boosted its holdings in shares of Beacon Roofing Supply by 128.3% in the 1st quarter. SG Americas Securities LLC now owns 13,155 shares of the company’s stock worth $1,289,000 after purchasing an additional 7,394 shares in the last quarter. Swiss National Bank increased its position in shares of Beacon Roofing Supply by 12.4% during the 1st quarter. Swiss National Bank now owns 118,800 shares of the company’s stock valued at $11,645,000 after purchasing an additional 13,100 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Beacon Roofing Supply by 3.1% during the 1st quarter. Sei Investments Co. now owns 296,700 shares of the company’s stock valued at $29,082,000 after purchasing an additional 8,878 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.