Beacon Roofing Supply (NASDAQ:BECN) Lowered to “Sell” Rating by StockNews.com

Beacon Roofing Supply (NASDAQ:BECN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

A number of other equities analysts have also weighed in on the stock. Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, November 1st. Royal Bank of Canada boosted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Robert W. Baird upped 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. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, January 8th. One investment 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.com, Beacon Roofing Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.33.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock traded down $2.58 during mid-day trading on Thursday, hitting $114.60. 2,016,000 shares of the company were exchanged, compared to its average volume of 1,220,620. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company has a market capitalization of $7.09 billion, a P/E ratio of 19.59 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. The business’s 50 day simple moving average is $106.40 and its two-hundred day simple moving average is $95.92.

Insiders Place Their Bets

In related news, insider Clement Munroe Best III sold 7,037 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 69,449 shares of the company’s stock, valued at $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 15,274 shares of company stock worth $1,578,146 in the last quarter. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Beacon Roofing Supply

Several hedge funds and other institutional investors have recently bought and sold shares of BECN. Vanguard Personalized Indexing Management LLC grew its position in shares of Beacon Roofing Supply by 2.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock worth $501,000 after acquiring an additional 147 shares in the last quarter. Blair William & Co. IL lifted its stake in Beacon Roofing Supply by 197.2% during the second quarter. Blair William & Co. IL now owns 19,544 shares of the company’s stock worth $1,769,000 after purchasing an additional 12,969 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Beacon Roofing Supply by 3.2% in the second quarter. Canada Pension Plan Investment Board now owns 100,800 shares of the company’s stock worth $9,122,000 after purchasing an additional 3,100 shares during the period. Bank of Montreal Can increased its stake in Beacon Roofing Supply by 50.2% during the second quarter. Bank of Montreal Can now owns 9,928 shares of the company’s stock valued at $926,000 after purchasing an additional 3,320 shares during the last quarter. Finally, Xponance Inc. raised its holdings in shares of Beacon Roofing Supply by 23.0% during the second quarter. Xponance Inc. now owns 4,981 shares of the company’s stock worth $451,000 after purchasing an additional 931 shares during the period. 98.45% of the stock is owned by 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.