Beacon Roofing Supply (NASDAQ:BECN) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Stephens reissued an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Finally, BMO Capital Markets boosted their target price on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $120.17.

Beacon Roofing Supply Trading Down 0.2 %

Shares of Beacon Roofing Supply stock opened at $119.19 on Thursday. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 20.37 and a beta of 1.62. The business has a 50-day moving average price of $109.99 and a 200-day moving average price of $99.10. 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 twelve month low of $77.54 and a twelve month high of $121.42.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 6,531 shares of the company’s stock, valued at approximately $718,410. This represents a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Beacon Roofing Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock valued at $661,235,000 after buying an additional 24,027 shares in the last quarter. FMR LLC lifted its holdings in Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after purchasing an additional 963,633 shares in the last quarter. Boston Partners lifted its stake in shares of Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock worth $462,417,000 after buying an additional 59,630 shares in the last quarter. State Street Corp lifted its stake in Beacon Roofing Supply by 1.1% in the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after purchasing an additional 15,505 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Beacon Roofing Supply by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock worth $103,011,000 after buying an additional 20,372 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.