Beacon Roofing Supply (NASDAQ:BECN) Rating Lowered to "Hold" at Stifel Nicolaus

Stifel Nicolaus lowered shares of Beacon Roofing Supply (NASDAQ:BECN - Free Report) from a buy rating to a hold rating in a report released on Friday morning, Marketbeat reports. They currently have $122.55 price objective on the stock, down from their previous price objective of $131.00.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th. Zelman & Associates lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. BMO Capital Markets lifted their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an "outperform" rating in a research note on Thursday, January 16th. Benchmark reissued a "buy" rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Finally, Robert W. Baird increased their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $120.17.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock traded up $0.38 on Friday, hitting $118.95. The company's stock had a trading volume of 295,135 shares, compared to its average volume of 1,081,206. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $121.42. The firm has a fifty day moving average price of $109.76 and a 200-day moving average price of $98.83. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 20.29 and a beta of 1.62.

Insider Activity at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the completion of the transaction, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. This represents a 28.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP grew its position in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company's stock worth $26,000 after acquiring an additional 197 shares during the period. Blue Trust Inc. grew its position in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company's stock worth $28,000 after acquiring an additional 211 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Beacon Roofing Supply in the third quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Beacon Roofing Supply during the fourth quarter worth $31,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of 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 buying an additional 163 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

About Beacon Roofing Supply

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.