Beacon Roofing Supply (NASDAQ:BECN) Lowered to “Hold” Rating by Stifel Nicolaus

Stifel Nicolaus lowered shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a hold rating in a report released on Friday, Marketbeat.com reports. Stifel Nicolaus currently has $122.55 price target on the stock, down from their prior price target of $131.00.

Several other brokerages also recently commented on BECN. JPMorgan Chase & Co. raised their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. BMO Capital Markets upped their price target 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. StockNews.com started coverage on Beacon Roofing Supply in a research note on Wednesday. They set a “sell” rating for the company. Finally, Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $120.17.

Beacon Roofing Supply Trading Down 0.7 %

NASDAQ:BECN opened at $119.70 on Friday. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $121.42. The stock’s fifty day moving average price is $109.50 and its two-hundred day moving average price is $98.53. 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 cap of $7.41 billion, a P/E ratio of 20.46 and a beta of 1.62.

Insider Activity at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the transaction, the insider now owns 6,531 shares of the company’s stock, valued at approximately $718,410. This trade represents a 28.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Beacon Roofing Supply

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of 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 acquiring an additional 963,633 shares during the last quarter. State Street Corp lifted its position in Beacon Roofing Supply by 1.1% in the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock valued at $127,182,000 after purchasing an additional 15,505 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of 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 valued at $103,011,000 after purchasing an additional 20,372 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Beacon Roofing Supply by 2.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 985,199 shares of the company’s stock valued at $100,076,000 after purchasing an additional 22,122 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Beacon Roofing Supply by 1,449.0% in the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after purchasing an additional 575,852 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other 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.