Beacon Roofing Supply (NASDAQ:BECN) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Beacon Roofing Supply (NASDAQ:BECN) from a hold rating to a sell rating in a research report report published on Thursday morning.

Several other research firms have also commented on BECN. Stephens restated an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. JPMorgan Chase & Co. raised their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 price target on shares of Beacon Roofing Supply in a report on Wednesday, January 8th. Royal Bank of Canada raised their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.33.

Beacon Roofing Supply Trading Down 2.2 %

Beacon Roofing Supply stock opened at $114.60 on Thursday. The firm has a market cap of $7.09 billion, a PE ratio of 19.59 and a beta of 1.61. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $121.22. The stock’s 50 day simple moving average is $106.40 and its two-hundred day simple moving average is $95.92. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Insider Activity at Beacon Roofing Supply

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

Hedge Funds Weigh In On Beacon Roofing Supply

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