Beacon Roofing Supply (NASDAQ:BECN) Price Target Raised to $136.00 at JPMorgan Chase & Co.

Beacon Roofing Supply (NASDAQ:BECN) had its price target raised by analysts at JPMorgan Chase & Co. from $119.00 to $136.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 26.34% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada lifted their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Robert W. Baird raised 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, Stephens restated an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock traded down $0.86 during trading hours on Tuesday, reaching $107.65. The company’s stock had a trading volume of 546,764 shares, compared to its average volume of 724,076. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $116.30. The company’s 50 day simple moving average is $91.58 and its 200 day simple moving average is $92.43. 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 stock has a market cap of $6.66 billion, a P/E ratio of 18.42 and a beta of 1.54.

Insiders Place Their Bets

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total transaction of $566,349.39. Following the completion of the sale, the insider now owns 69,514 shares of the company’s stock, valued at $6,984,071.58. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the transaction, the insider now owns 9,131 shares in the company, valued at approximately $821,790. This represents a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,274 shares of company stock worth $1,526,146 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Beacon Roofing Supply

A number of institutional investors have recently bought and sold shares of BECN. Allspring Global Investments Holdings LLC bought a new position in shares of Beacon Roofing Supply in the 1st quarter valued at approximately $26,000. Quarry LP raised its position in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Blue Trust Inc. lifted its stake in shares of Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 211 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth $28,000. Finally, GAMMA Investing LLC raised its holdings in Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after acquiring an additional 445 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.