Beacon Roofing Supply (NASDAQ:BECN) Price Target Raised to $136.00 at BMO Capital Markets

Beacon Roofing Supply (NASDAQ:BECN) had its target price upped by BMO Capital Markets from $125.00 to $136.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

BECN has been the topic of a number of other reports. Royal Bank of Canada lifted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted 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 report on Tuesday, November 19th. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price objective on shares of Beacon Roofing Supply in a research note on Wednesday, January 8th. Stephens reaffirmed an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Finally, Benchmark reissued a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Friday, November 1st. One 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 an average target price of $119.33.

Beacon Roofing Supply Stock Down 2.2 %

Shares of BECN opened at $114.60 on Thursday. 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 52 week low of $77.54 and a 52 week high of $121.22. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 19.59 and a beta of 1.61. The stock has a fifty day moving average of $106.40 and a 200-day moving average of $95.92.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 6,531 shares of the company’s stock, valued at $718,410. The trade was a 28.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the transaction, the insider now owns 69,514 shares in the company, valued at approximately $6,984,071.58. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,274 shares of company stock valued at $1,578,146. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP grew its position in Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Blue Trust Inc. grew its holdings in shares of Beacon Roofing Supply by 222.1% during the third 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 last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply during the third quarter worth about $28,000. GAMMA Investing LLC raised its holdings 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 worth $63,000 after acquiring 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 3rd 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 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.