Stifel Nicolaus Forecasts Strong Price Appreciation for Beacon Roofing Supply (NASDAQ:BECN) Stock

Beacon Roofing Supply (NASDAQ:BECN) had its target price upped by Stifel Nicolaus from $115.00 to $131.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on the stock. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. StockNews.com cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Thursday. Stephens reissued an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Robert W. Baird upped their price target on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada raised their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply has an average rating of “Moderate Buy” and an average price target of $121.11.

Beacon Roofing Supply Stock Up 1.2 %

Shares of Beacon Roofing Supply stock opened at $115.92 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply has a 52-week low of $77.54 and a 52-week high of $121.22. The company has a market capitalization of $7.17 billion, a P/E ratio of 19.82 and a beta of 1.61. The company has a 50 day moving average of $106.65 and a 200 day moving average of $96.12.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now directly owns 69,514 shares of the company’s stock, valued at approximately $6,984,071.58. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,274 shares of company stock worth $1,578,146. Insiders own 1.30% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new position in shares of Beacon Roofing Supply in the third quarter valued at approximately $1,441,000. Barclays PLC grew its position in Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after buying an additional 89,222 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Beacon Roofing Supply by 23.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company’s stock valued at $3,668,000 after buying an additional 7,924 shares during the period. JPMorgan Chase & Co. increased its stake in Beacon Roofing Supply by 16.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company’s stock valued at $30,849,000 after buying an additional 49,902 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Beacon Roofing Supply during the 3rd quarter worth $4,331,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.