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

Beacon Roofing Supply (NASDAQ:BECN) had its price target upped by investment analysts at BMO Capital Markets from $125.00 to $136.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 17.32% from the company’s current price.

A number of other equities research analysts have also weighed in on BECN. JPMorgan Chase & Co. boosted their target price 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. Royal Bank of Canada boosted their target price 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. Stephens reissued an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 target price on shares of Beacon Roofing Supply in a research note on Wednesday, January 8th. Finally, Robert W. Baird boosted their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.11.

Beacon Roofing Supply Trading Up 1.2 %

Shares of BECN stock opened at $115.92 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The business has a 50-day moving average price of $106.65 and a two-hundred day moving average price of $96.12. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $121.22. The firm has a market cap of $7.17 billion, a P/E ratio of 19.82 and a beta of 1.61.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now owns 69,514 shares in the company, valued at approximately $6,984,071.58. This represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the company’s 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 transaction, the insider now owns 6,531 shares in the company, valued at $718,410. This trade represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,274 shares of company stock worth $1,578,146 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

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