Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Rating of "Moderate Buy" from Analysts

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nine analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $117.88.

Several research analysts recently weighed in on BECN shares. Stephens restated an "equal weight" rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. 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 report on Tuesday, November 19th. Benchmark reaffirmed a "buy" rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Robert W. Baird raised their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada upped 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.

Insiders Place Their Bets

In related 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 transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the completion of the transaction, the insider now owns 69,449 shares of the company's stock, valued at $7,162,969.86. This trade represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,874 shares of company stock valued at $1,812,146 over the last 90 days. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of Beacon Roofing Supply by 17.6% during 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 during the period. State Street Corp raised its holdings in shares of Beacon Roofing Supply by 1.1% in the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company's stock valued at $127,182,000 after purchasing an additional 15,505 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Beacon Roofing Supply by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company's stock worth $85,887,000 after purchasing an additional 2,607 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Beacon Roofing Supply by 18.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 963,077 shares of the company's stock worth $83,239,000 after purchasing an additional 152,030 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Beacon Roofing Supply by 1,449.0% in the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company's stock valued at $53,205,000 after buying an additional 575,852 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Price Performance

NASDAQ BECN traded down $1.10 during trading hours on Thursday, reaching $100.48. The company's stock had a trading volume of 457,007 shares, compared to its average volume of 711,289. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company's 50-day moving average is $104.22 and its two-hundred day moving average is $95.03. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 17.18 and a beta of 1.59. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $116.30.

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.