JPMorgan Chase & Co. Raises Beacon Roofing Supply (NASDAQ:BECN) Price Target to $119.00

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $110.00 to $119.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 16.43% from the stock's previous close.

A number of other research firms have also commented on BECN. Robert W. Baird lifted their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Benchmark reiterated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Finally, Stephens cut their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an "equal weight" rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $115.22.

Beacon Roofing Supply Stock Up 1.5 %

Shares of NASDAQ:BECN traded up $1.49 during trading on Thursday, hitting $102.21. 756,916 shares of the company were exchanged, compared to its average volume of 665,552. 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 firm's 50 day moving average price is $89.63 and its 200-day moving average price is $92.31. The stock has a market capitalization of $6.33 billion, a P/E ratio of 17.47 and a beta of 1.54. Beacon Roofing Supply has a 12-month low of $72.56 and a 12-month high of $105.42.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the sale, the insider now owns 9,131 shares of the company's stock, valued at $821,790. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Beacon Roofing Supply in the first quarter valued at $26,000. Blue Trust Inc. grew its holdings in 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 buying an additional 211 shares during the period. GAMMA Investing LLC increased its stake in shares of Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company's stock valued at $63,000 after acquiring an additional 445 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Beacon Roofing Supply by 66.7% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company's stock worth $108,000 after acquiring an additional 500 shares during the period. Finally, Plato Investment Management Ltd grew its holdings in Beacon Roofing Supply by 140.3% in the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company's stock valued at $109,000 after purchasing an additional 648 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.