Beacon Roofing Supply (NASDAQ:BECN) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the stock.

A number of other brokerages have also recently commented on BECN. Royal Bank of Canada increased their price target 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. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird boosted their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus lifted their target price on Beacon Roofing Supply from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.11.

Beacon Roofing Supply Trading Up 1.3 %

Shares of Beacon Roofing Supply stock opened at $120.50 on Wednesday. The stock has a market cap of $7.46 billion, a P/E ratio of 20.60 and a beta of 1.62. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $121.42. The business’s 50 day moving average is $109.34 and its 200-day moving average is $98.37.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply 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 $718,410. The trade was a 28.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors and hedge funds have recently bought and sold shares of BECN. Intech Investment Management LLC acquired a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at approximately $1,441,000. Barclays PLC raised its position in Beacon Roofing Supply by 272.0% during the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after purchasing an additional 89,222 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Beacon Roofing Supply by 16.3% during the third quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company’s stock worth $30,849,000 after purchasing an additional 49,902 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Beacon Roofing Supply by 23.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company’s stock valued at $3,668,000 after purchasing an additional 7,924 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 3rd quarter worth $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.