Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been given an average recommendation of “Moderate Buy” by the ten research firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $120.17.

BECN has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. StockNews.com initiated coverage on Beacon Roofing Supply in a report on Friday. They set a “sell” rating on the stock. Stephens restated 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP boosted its position in shares of 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 in the last quarter. Blue Trust Inc. grew its stake in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply in the third quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth about $31,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Beacon Roofing Supply during the 4th quarter valued at about $54,000. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 0.3 %

BECN opened at $119.57 on Friday. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $121.42. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The business has a 50 day moving average price of $111.09 and a 200 day moving average price of $100.00. The firm has a market cap of $7.36 billion, a P/E ratio of 20.44 and a beta of 1.62.

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.