Beacon Roofing Supply (NASDAQ:BECN) Given New $131.00 Price Target at Stifel Nicolaus

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) had its target price hoisted by stock analysts at Stifel Nicolaus from $115.00 to $131.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 12.64% from the company's current price.

BECN has been the subject of a number of other research reports. StockNews.com lowered Beacon Roofing Supply from a "hold" rating to a "sell" rating in a research note on Thursday. Royal Bank of Canada boosted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an "overweight" rating in a report on Tuesday, November 19th. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, Stephens restated an "equal weight" rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of "Moderate Buy" and an average price target of $121.11.

Beacon Roofing Supply Price Performance

Shares of BECN stock traded up $1.70 on Friday, hitting $116.30. 375,364 shares of the stock traded hands, compared to its average volume of 1,142,023. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 19.85 and a beta of 1.61. 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 has a 50 day simple moving average of $106.40 and a two-hundred day simple moving average of $95.92. Beacon Roofing Supply has a 52 week low of $77.54 and a 52 week high of $121.22.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total value of $725,796.18. Following the sale, the insider now owns 69,449 shares in the company, valued at $7,162,969.86. This trade represents a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the sale, the insider now directly owns 6,531 shares of the company's stock, valued at $718,410. This represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,274 shares of company stock valued at $1,578,146 in the last ninety days. 1.30% of the stock is owned by company insiders.

Institutional Trading of Beacon Roofing Supply

Several institutional investors and hedge funds have recently modified their holdings of BECN. US Bancorp DE increased its holdings in Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company's stock worth $454,000 after purchasing an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Beacon Roofing Supply by 2.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company's stock valued at $501,000 after buying an additional 147 shares during the period. Equitable Trust Co. raised its holdings in shares of Beacon Roofing Supply by 2.2% in the third quarter. Equitable Trust Co. now owns 7,106 shares of the company's stock valued at $614,000 after acquiring an additional 156 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Beacon Roofing Supply by 7.3% in the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock valued at $234,000 after acquiring an additional 181 shares in the last quarter. Finally, Quarry LP grew its holdings in Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company's stock worth $26,000 after acquiring an additional 197 shares in the last quarter. 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.

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