Beacon Roofing Supply (NASDAQ:BECN) Price Target Raised to $136.00

Beacon Roofing Supply (NASDAQ:BECN - Free Report) had its target price boosted by BMO Capital Markets from $125.00 to $136.00 in a research report released on Thursday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

BECN has been the subject of several other reports. Royal Bank of Canada increased their price objective 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 reiterated a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. Stephens restated an "equal weight" rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. Finally, Robert W. Baird boosted their price target 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of "Moderate Buy" and a consensus price target of $121.11.

Beacon Roofing Supply Trading Up 1.2 %

NASDAQ:BECN traded up $1.32 on Thursday, hitting $115.92. The stock had a trading volume of 1,159,010 shares, compared to its average volume of 1,215,037. The company has a fifty day moving average price of $106.65 and a two-hundred day moving average price of $96.12. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $121.22. 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 stock has a market cap of $7.17 billion, a price-to-earnings ratio of 19.82 and a beta of 1.61.

Insider Buying and Selling

In related news, insider Jason L. Taylor sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the sale, the insider now owns 6,531 shares of the company's stock, valued at $718,410. This trade represents a 28.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now owns 69,514 shares of the company's stock, valued at $6,984,071.58. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,274 shares of company stock valued at $1,578,146 in the last three months. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP boosted its holdings in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of 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 in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at $28,000. GAMMA Investing LLC grew its position in shares of Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company's stock valued at $63,000 after buying an additional 445 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in Beacon Roofing Supply by 66.7% in the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company's stock valued at $108,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds 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.