Beacon Roofing Supply (NASDAQ:BECN) Price Target Raised to $131.00 at Stifel Nicolaus

Beacon Roofing Supply (NASDAQ:BECN) had its target price upped by research analysts at Stifel Nicolaus from $115.00 to $131.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 13.01% from the stock’s current price.

A number of other brokerages have also issued reports on BECN. Stephens reaffirmed an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Robert W. Baird raised 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. Royal Bank of Canada boosted their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Finally, StockNews.com lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.11.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $115.92 on Friday. The stock has a market cap of $7.17 billion, a PE ratio of 19.82 and a beta of 1.61. 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 business’s 50-day simple moving average is $106.65 and its two-hundred day simple moving average is $96.18. Beacon Roofing Supply has a 52 week low of $77.54 and a 52 week high of $121.22.

Insiders Place Their Bets

In other news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the transaction, the insider now directly owns 6,531 shares of the company’s stock, valued at approximately $718,410. The trade was a 28.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clement Munroe Best III sold 7,037 shares of the firm’s 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 sale, the insider now directly owns 69,449 shares in the company, valued at approximately $7,162,969.86. The trade was a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,274 shares of company stock worth $1,578,146 in the last ninety days. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BECN. Intech Investment Management LLC acquired a new position in shares of Beacon Roofing Supply during the third quarter worth $1,441,000. Barclays PLC raised its stake in Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after buying an additional 89,222 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Beacon Roofing Supply by 23.0% during the third quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company’s stock worth $3,668,000 after acquiring an additional 7,924 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Beacon Roofing Supply by 16.3% during the third quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company’s stock valued at $30,849,000 after acquiring an additional 49,902 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Beacon Roofing Supply during the third quarter valued at about $4,331,000. Institutional investors own 98.45% of the company’s stock.

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.