Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $121.42 and last traded at $120.98, with a volume of 328157 shares traded. The stock had previously closed at $118.97.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective 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. BMO Capital Markets boosted their target price on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an "outperform" rating in a research report on Thursday, January 16th. Robert W. Baird raised their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped 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. Finally, Benchmark reiterated a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $120.17.
Check Out Our Latest Analysis on BECN
Beacon Roofing Supply Price Performance
The company has a market capitalization of $7.34 billion, a P/E ratio of 20.27 and a beta of 1.62. 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 price is $109.76 and its two-hundred day moving average price is $98.83.
Insider Transactions at Beacon Roofing Supply
In other news, insider Jason L. Taylor sold 2,600 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the sale, the insider now owns 6,531 shares of the company's stock, valued at approximately $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in BECN. SBI Securities Co. Ltd. bought a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $31,000. Blue Trust Inc. increased its stake in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company's stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. Quarry LP increased its stake 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 acquiring an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Beacon Roofing Supply during the third quarter valued at approximately $28,000. Finally, PNC Financial Services Group Inc. lifted its stake in Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after purchasing an additional 163 shares during the last quarter. 98.45% of the stock is owned by institutional investors.
About Beacon Roofing Supply
(
Get Free Report)
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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