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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $120.17.

BECN has been the subject of several recent research reports. BMO Capital Markets increased their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. StockNews.com assumed coverage on Beacon Roofing Supply in a research report on Friday, February 21st. They set a “sell” rating on the stock. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Finally, Royal Bank of Canada lifted their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Beacon Roofing Supply Stock Up 0.6 %

BECN opened at $116.07 on Friday. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $121.42. The firm has a 50 day moving average price of $111.72 and a 200 day moving average price of $100.94. 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 company has a market cap of $7.15 billion, a PE ratio of 19.84 and a beta of 1.62.

Institutional Trading of Beacon Roofing Supply

Several institutional investors have recently added to or reduced their stakes in BECN. Blue Trust Inc. raised its stake in shares of Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. Raymond James & Associates increased its holdings in Beacon Roofing Supply by 29.6% in the third quarter. Raymond James & Associates now owns 54,462 shares of the company’s stock valued at $4,707,000 after buying an additional 12,433 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Beacon Roofing Supply by 12.3% during the third quarter. Assenagon Asset Management S.A. now owns 209,547 shares of the company’s stock valued at $18,111,000 after buying an additional 22,971 shares in the last quarter. Iridian Asset Management LLC CT lifted its holdings in Beacon Roofing Supply by 27.5% during the 3rd quarter. Iridian Asset Management LLC CT now owns 83,713 shares of the company’s stock worth $7,235,000 after buying an additional 18,064 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after acquiring an additional 116 shares in the last quarter. 98.45% of the stock is 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.