Analysts Set Beacon Roofing Supply, Inc. (NASDAQ:BECN) Target Price at $115.22

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $115.22.

Several analysts have weighed in on BECN shares. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Stephens lowered their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Benchmark reissued a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $98.75 on Wednesday. The business has a 50 day moving average of $91.58 and a 200 day moving average of $92.43. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 16.88 and a beta of 1.54. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $105.84. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now owns 9,131 shares of the company’s stock, valued at approximately $821,790. This represents a 22.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,274 shares of company stock valued at $1,526,146. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after buying an additional 963,633 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Beacon Roofing Supply by 14.1% during the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after purchasing an additional 872,216 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Beacon Roofing Supply by 1,449.0% during the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after purchasing an additional 575,852 shares in the last quarter. Boston Partners grew its holdings in Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after buying an additional 569,627 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in Beacon Roofing Supply by 1,192.1% during the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock valued at $44,398,000 after buying an additional 473,937 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

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.