Beacon Roofing Supply (NASDAQ:BECN) Given New $136.00 Price Target at BMO Capital Markets

Beacon Roofing Supply (NASDAQ:BECN) had its target price increased by equities research analysts at BMO Capital Markets from $125.00 to $136.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 17.71% from the stock’s previous close.

A number of other equities analysts also recently commented on BECN. Stephens reaffirmed an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 price target on shares of Beacon Roofing Supply in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted 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. Finally, Benchmark reaffirmed a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $119.33.

Beacon Roofing Supply Trading Down 1.4 %

Shares of NASDAQ BECN traded down $1.64 during trading on Thursday, hitting $115.54. 819,984 shares of the company were exchanged, compared to its average volume of 1,092,629. The company has a fifty day moving average price of $106.15 and a 200-day moving average price of $95.79. 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 firm has a market capitalization of $7.15 billion, a PE ratio of 19.75 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.

Insider Activity at Beacon Roofing Supply

In other news, insider Clement Munroe Best III sold 7,037 shares of the firm’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 transaction, the insider now owns 69,449 shares of the company’s stock, valued at approximately $7,162,969.86. This trade represents a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $286,000.00. Following the sale, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. The trade was a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,274 shares of company stock worth $1,578,146. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Beacon Roofing Supply

Hedge funds have recently modified their holdings of the stock. Quarry LP increased its holdings in Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. Blue Trust Inc. grew its position in shares of Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Beacon Roofing Supply during the third quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock valued at $63,000 after acquiring an additional 445 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in Beacon Roofing Supply by 66.7% in the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after acquiring an additional 500 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

About Beacon Roofing Supply

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.