Beacon Roofing Supply (NASDAQ:BECN – Rating Received) The target price was raised from $76.00 to $84.00 by analysts at Loop Capital in a note to investors on Friday, reports The Fly. Loop Capital’s price target suggests a potential upside of 15.35% from the company’s previous close.
BECN has been the subject of a number of other reports. StockNews.com acquired coverage of Beacon Roofing Supply shares in a research note on Thursday, May 18th. They assigned a “hold” rating to the company. Deutsche Bank Aktiengesellschaft raised its price target on Beacon Roofing Supply from $85.00 to $86.00 in a research note on Friday, May 5. Zelman & Associates downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Friday, March 10. TheStreet downgraded Beacon Roofing Supply from a “b” rating to a “c” rating in a research report on Friday, May 5th. Finally, in a research note on Monday, February 27, Robert W. Baird raised his price target on Beacon Roofing Supply to $76.00 from $65.00 and gave the company a neutral rating. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply has an average rating of Hold and a consensus price target of $71.75.
Beacon Roofing Supply inventories up 1.7%
Beacon Roofing Supply shares opened at $72.82 on Friday. Beacon Roofing Supply has a 12-month low of $45.71 and a 12-month high of $73.20. The company has a quick ratio of 1.09, a current ratio of 2.07 and a debt to equity ratio of 1.00. The company’s 50-day moving average is $61.73 and its 200-day moving average is $59.19. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 14.00 and a beta of 1.58.
Insider activity at Beacon Roofing Supply
In other news from Beacon Roofing Supply, major shareholder Cd&R Investment Associates Ix acquired 99,880 shares of the company in a transaction on Friday, April 28. The stock was purchased at an average price of $60.07 per share for a total transaction of $5,999,791.60. Following the acquisition, the insider now directly owns 15,171,964 shares of the company’s stock valued at $911,379,877.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. In other news from Beacon Roofing Supply, major shareholder Cd&R Investment Associates Ix acquired 99,880 shares of the company in a transaction on Friday, April 28. The stock was purchased at an average price of $60.07 per share for a total transaction of $5,999,791.60. Following the acquisition, the insider now directly owns 15,171,964 shares of the company’s stock valued at $911,379,877.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, insider Clement Munroe Best III sold 1,500 shares of the company’s stock in a transaction Tuesday, May 16. The shares sold at an average price of $61.72 for a total value of $92,580.00. Following the transaction, the insider now owns 58,183 shares of the company’s stock, valued at approximately $3,591,054.76. The disclosure for this sale can be found here. 0.95% of the shares are owned by company insiders.
Hedge funds weigh on Beacon Roofing Supply
A number of large investors have recently bought and sold shares in BECN. Brandywine Global Investment Management LLC purchased a new stake in Beacon Roofing Supply for $10,192,000 during the first quarter. JPMorgan Chase & Co. increased its position in Beacon Roofing Supply by 301.1% in the first quarter. JPMorgan Chase & Co. now owns 849,092 shares of the company’s stock valued at $49,969,000 after purchasing an additional 637,420 shares last quarter. Thrivent Financial for Lutherans increased its position in Beacon Roofing Supply by 9.3% in the first quarter. Thrivent Financial for Lutherans now owns 18,098 shares of the company, valued at $1,066,000, after purchasing an additional 1,543 shares last quarter. State Street Corp increased its position in Beacon Roofing Supply by 1.0% during the first quarter. State Street Corp now owns 1,089,668 shares of the company’s stock valued at $64,127,000 after purchasing an additional 10,321 shares last quarter. Finally, Squarepoint Ops LLC increased its position in Beacon Roofing Supply by 106.1% during the first quarter. Squarepoint Ops LLC now owns 110,247 shares of the company’s stock valued at $6,488,000 after purchasing an additional 56,747 shares last quarter.
Company Profile of Beacon Roofing Supply
(get rating)
Beacon Roofing Supply, Inc. is engaged in the distribution of roofing materials for residential and non-residential buildings. In addition, the company sells ancillary building products, including cladding, windows, specialty exterior building products, insulation and waterproofing systems for the exterior of buildings. The company was incorporated on August 22, 1997 and is headquartered in Herndon, VA.
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